Editor's note: CGTN's First Voice provides instant commentary on breaking stories. The column clarifies emerging issues and better defines the news agenda, offering a Chinese perspective on the latest global events.

This month, the US and 14 other economies signed a joint ministerial statement on "structural excess capacity and production." For years, Americans regarded competition as sacred until competitors from elsewhere started winning.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on X to discover the latest commentaries in the CGTN Opinion Section.)