No nation in the world flexes its manufacturing muscle quite like China.

The country makes more things sector is on steroids.

And recently, it's leaning into that even more.

The country's own factory sector is on steroids. So basically means to go all in on manufacturing regardless of

domestic demand. foreign rivals can't compete and it's shaking up the global economy.

Our colleague Ling Ling Wei has seen it affecting companies in the US.

One of the companies is called Cubic PV. It is a company founded by MIT engineers in 2008.

So in late 2022, cubic PV announced plans to build a 1.4 billion dollar wafer

plant in Texas to make silicon wafers a key solar panel component.

The company then went on to hire engineers, source materials, and make all the preparation work.

Manufacturing these wafers for solar panels

would have been a step forward for the American solar power industry.

But then, earlier this year, the company had to heart all the

production plans and big reason for that is China.

China has newly doubled its output of silicon wafers,

way more than it needs. The extra wafers had to go somewhere. So the extra wafers went overseas and pushing

prices down by about 70%.

So cubic PV was like outpriced, essentially.

Exactly.

So that's why they have to suspend the production plans.

As a company told us,

a distorted market as a result of China's overcapacity

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