English to German Bus/Financial Investment / Securities Inflationsentwicklung

A continued rebound would inevitably see a further widening of the deficit, especially since the U.S. runs a deficit in autos (where there has been a key supply shortfall). At the same time, global capacity is also tighter than in the mid‑2000s, ***as repeated rounds of Chinese supply cuts are leaving Chinese producers with less spare factory capacity***. Also, most incremental investment today is going to service depreciation rather than new greenfield productive capacity.

Ich verstehe den eingesternten Teil inhaltlich nicht. Kann mir jemand auf die Sprünge helfen?