Reported 5 months ago
Global finance chiefs at the G-7 meeting in Stresa, Italy, are expressing alarm over China's significant role in world trade and are preparing to unite against "harmful practices." A draft communique reveals a stronger stance compared to previous statements, emphasizing the need to make supply chains more resilient and respond to harmful practices while safeguarding critical technologies. Concerns were raised about Chinese industrial overcapacity, leading to discussions on revamping trade rules with China. Additionally, ministers acknowledged ongoing economic challenges, including uneven growth across countries and regions, and the need to repair public finances to enhance fiscal sustainability.
Source: YAHOO