Evidence of overcapacity claim weak: UK economic historian

STORY: Evidence of overcapacity claim weak: UK economic historian SHOOTING TIME: June 25, 2024 DATELINE: June 27, 2024 LENGTH: 00:02:14 LOCATION: DALIAN, China CATEGORY: ECONOMY SHOTLIST: Renowned UK economic historian Adam Tooze argues that evidence of "overcapacity" in China's electric vehicle (EV) industry is weak. He made the remarks in an interview with Xinhua at the 2024 Summer Davos in the northeastern Chinese city of Dalian. Tooze, director of the European Institute at Columbia University, says Europe and the U.S. are lagging behind China in developing the EV industry. During its process of accelerating the green energy transition, China witnessed the emergence of world-beating firms that are low-cost, high-quality with extraordinary supply chains. "It's hard to see that as evidence of 'overcapacity'," says Tooze. SOUNDBITE (English): ADAM TOOZE, Director of the European Institute at Columbia University "If you look at the areas which are most political, I think the evidence (of 'overcapacity')