The seven major economies are pressuring China to reduce industrial subsidies

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The seven major economies are pressuring China to reduce industrial subsidies

Globalization of the past 30 years is not dead as some claim, but it's clear it's not in good health and is collapsing more and more. The industrial strength of China, largely achieved through subsidies to its companies, is not getting a common response from the West, divided over trade barriers. The finance ministers of the seven major economies, meeting in Stresa, in the Piedmont region, only committed to pressing Beijing to reduce subsidies t…