Bessent pushes G20 to confront China over US$1.2 trillion trade surplus
US Treasury Secretary Scott Bessent will urge G20 members to re-examine their trade relations with China and push Beijing to rebalance its economy towards domestic consumption, warning that the country’s export-driven growth is contributing to unsust...
US Treasury Secretary Scott Bessent will address the G20 on the unsustainable trade surplus China maintains at US$1.2 trillion, urging member nations to reevaluate their trade ties with China. Bessent contends that China's export-driven economy is exacerbating global imbalances and that Beijing must shift focus towards domestic consumption.
The Treasury Secretary asserts that the world cannot sustain a scenario where China maintains such a large trade surplus, and that China's economy is currently struggling and attempting to export its way out of the issue.
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