G20 finance chiefs meet amid economic uncertainty, market volatility

Finance ministers and central bank governors from the Group of 20 major economies gathered in Bangkok to evaluate the global economic outlook, grappling with inflation, rising interest rates, and market volatility. Discussions will also center on the ongoing turmoil in the Middle East, surging energy prices, and efforts to bolster supply chains.

The Group of 20, comprising major advanced and emerging economies such as the United States, Japan, China, and Russia, is not anticipated to publish a joint statement summarizing the meeting's conclusions. The previous meeting in Asheville, North Carolina, ended without a consensus due to China's objections to language on trade and other issues, highlighting the challenges of reaching agreement among major economies amid growing trade and geopolitical rifts.

Policymakers are anticipated to prioritize inflation and global growth risks, as the Middle East conflict disrupts energy supplies and high interest rates dampen investment and economic activity. Additionally, China's industrial overcapacity, with manufacturers persistently producing and exporting goods at reduced prices, is a significant concern for trading partners regarding its impact on their domestic industries.

Japan will be represented by Finance Minister Satsuki Katayama and Bank of Japan Governor Kazuo Ueda, while U.S. Treasury Secretary Scott Bessent will not attend to concentrate on domestic affairs.

Brief written by urgent.news from The Mainichi's own syndicated text. Machine-written — may contain errors; check the original before relying on it.