China’s relationship in the world system of business was roundly criticized by Group of Seven finance leaders in a show of unity accompanied by a risk of further increase.
The team of rich-world ministers and central bankers concluded its meeting in the European lake city of Stresa on Saturday with a statement that cited the country’s second-biggest market by title and accused the country of hurting the economies of its trade partners. ” While reaffirming our interest in a healthy and bilateral cooperation, we express concerns about China’s extensive use of non-market policies and practices that undermines our staff, companies, and economic tenacity,” they said. ” We will continue to monitor the potential negative impacts of overcapacity and may acquire taking steps to ensure a level playing field. “
Those words of warning followed the Biden administration’s announcement to reinstate tariffs on thousands of products imported from China. The increase in speech could just be the prelude to more hostilities if Trump regains the White House in US votes.
