A production surplus in China threatens to flood Western global markets with cheaper Chinese products that can displace local competition. According to an analysis by Foreign Affairs, Beijing’s industrial policies have pushed the country to produce more than the world can take in. This puts China at risk of spiraling into “a doom loop of falling prices, insolvency, factory closures, and, ultimately, job losses.” U.S. Treasury Secretary Janet Yellen addressed the issue in April, stating: “We’re not the only country that’s concerned about a flood of Chinese exports wiping out important firms and…