China Hits Back at G20 Pressure over Exports and Trade Imbalances
7 Articles
7 Articles
China floods world markets with subsidized goods. In the G-20, understanding of this distortion of competition is dwindling.
China hits back at G20 pressure over exports and trade imbalances
A Chinese flag flutters on top of the Great Hall of the People ahead of the opening ceremony of the Belt and Road Forum (BRF), to mark 10th anniversary of the Belt and Road Initiative, in Beijing, China October 18, 2023. Edgar Su | Reuters BEIJING — China has accused other G20 nations of “promoting
At the heart of the controversy lies China's economic growth model. The presidential statement pointed out that prolonged and excessive global imbalances harm other countries; countries should eliminate non-market policies that cause imbalances, and countries with large trade surpluses should increase domestic consumption and reduce their over-reliance on exports. The statement did not name China, but Bessant highlighted that China has the world…
Beijing blocked joint press release after opposing the expression "non-market-oriented", seen as indirect criticism of Chinese states
China accused the 20 countries of promoting protectionist trade policies, having criticized the group of economies that are heavily dependent on exports, in a new escalation of trade disputes between Beijing, the United States, and Europe. The US Secretary of the Treasury, Scott Point, said last Tuesday that 19 members of the group had agreed to address what he described as the unsustainable imbalance resulting from the flow of cheap exports. [.…
The Chinese Ministry of Commerce objected to platforms like the G20 being used to promote narratives of economic imbalance and overcapacity, stating that such narratives serve as a cover for protectionism and distort global trade.
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