G20 backs final statement despite Russia tensions, China dissent
Nineteen G20 members backed a chair’s statement on exports and debt, while China objected to language on imbalances, officials said.
- G20 finance ministers and central bank governors concluded two days of talks in Asheville, North Carolina, issuing a chair's statement after failing to reach a unanimous joint communiqué.
- China emerged as the sole dissenter regarding language aimed at curbing non-market policies, non-tariff trade distortions, and excessive export surpluses.
- U.S. Treasury Secretary Scott Bessent stated that 19 G20 members agreed persistent streams of cheap exports from non-market economies create an unsustainable global economic equilibrium.
- Tensions surfaced over the participation of Russian Finance Minister Anton Siluanov, marking his first appearance at a G20 finance gathering since 2022 and drawing sharp criticism from Western allies.
- Despite the friction, attendees achieved consensus on peripheral geopolitical concerns, with U.S. officials noting shared ground with Beijing on preserving maritime transit through the Strait of Hormuz and preventing Iranian nuclear escalation.
146 Articles
146 Articles
US Secretary to the Treasury attacks Beijing's excess exports and pushes the EU to introduce barriers against Chinese goods. Dombrovskis: "China should spend more, the US less and the EU should invest more"
China Stands Alone at G20 Over Tackle Trade Imbalances
The Group of 20 finance ministers meeting in Asheville, North Carolina, concluded this week with a stark diplomatic divide. China found itself entirely isolated as 19 member nations rallied behind a United States initiative to combat global trade imbalances. The summit highlighted a rapidly growing international consensus against non-market economic policies and heavily subsidized industries. […] <p>The post China Stands Alone at G20 Over Tackle…
Bessent Spouts Tough-on-China Rhetoric at G20, Setting Stage for Meeting Between Trump and Xi
The four-day summit of the G20 finance ministers in Asheville, N.C. closed on a tense note due to China’s repudiation of assertions that its export strategy deluges other markets in an excess of low-value goods.
DECRYPTAGE - Europeans did not appreciate the presence of the Russian Finance Minister invited by the US Presidency, while China opposed the draft final communiqué on "non-market policies" which exacerbate imbalances.
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