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APEC finance ministers warn persistent global imbalances risk growth and stability
Finance leaders said global imbalances are threatening growth and stability, and they pledged closer coordination on economic policy.
- On Wednesday, senior finance officials from the 21 Asia-Pacific Economic Cooperation member economies concluded two days of meetings in Hong Kong, pledging to improve communication to address persistent risks from global economic imbalances.
- Policymakers highlighted the urgent need to rebalance trade with China, noting that trade with other APEC economies rose nearly 24% during the first three quarters of this year, driven by high-tech exports.
- China's trade surplus is expected to exceed the 2025 record of $1.2 trillion, while officials also pointed to significant risks stemming from geopolitical tensions and vulnerable supply chains threatening global growth and stability.
- Chinese Finance Minister Lan, serving as chair of the APEC finance ministers' meeting, said members agreed to improve the coordination of economic policies to address these ongoing risks and challenges.
- These discussions prepare for an APEC summit next month in Shenzhen, where President Donald Trump and leader Jinping are expected to meet on the sidelines to discuss the broader economic landscape.
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Associated Press News+14 Reposted by 14 other sources
APEC finance ministers warn persistent global imbalances risk growth and stability
Senior Pacific Rim finance officials say global economic imbalances are bringing persistent risks and pledge to improve cooperation and communication.
·New York, United States
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Total News Sources15
Leaning Left12Leaning Right0Center3Last UpdatedBias Distribution80% Left
Bias Distribution
- 80% of the sources lean Left
80% Left
L 80%
C 20%
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