China Hits Back at G20 Statement on Its Reliance on Exports, Accusing Them of 'Promoting Protectionism'
China said G20 criticism of export-led growth is protectionism, while 19 members backed a call to address unsustainable trade imbalances.
- On Thursday, Commerce Ministry spokesperson Ling Huang rejected G20 criticism of Chinese "overcapacity," labeling it "promoting protectionism," after China became the only G20 member to dissent from a joint statement regarding "imbalances."
- Treasury Secretary Scott Bessent said Tuesday that 19 G20 members agreed to address the "unsustainable equilibrium" resulting from a "stream of cheap exports," establishing international consensus against Beijing's export practices.
- European Union Trade Commissioner Maroa warned this week that Beijing must deliver "concrete results" by October or face "harsher measures," while Huang urged France to halt legislation curbing low-priced goods from Temu.
- Regarding recent Washington sanctions on Chinese entities linked to Iran, Huang demanded authorities "immediately correct its wrong practices and lift sanctions," warning separately that France would "bear all consequences" if it persists.
- Beijing remains firmly opposed to what it terms efforts to "disrupt the global economic and trade order," with The Commerce Ministry maintaining that demands should not be made unilaterally or through market threats.
14 Articles
14 Articles
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China would not sign a joint statement from the G20 summit addressing trade imbalances as a major problem for the world economy
China rejects G20 trade-imbalance criticisms
China has fired back at critics of its trade imbalances at a Group of 20 gathering, reports the South China Morning Post. The rebuttal comes from the central bank, which denied that Beijing deliberately pursues trade surpluses, while also vowing that it would not weaponize the yuan to boost exports. In the face of concerns over export […]
US Treasury Secretary Scott Bessent revealed that 19 of the 20 G20 member countries have agreed to fight the flood of cheap exports that are considered to be damaging the global economic balance.
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