China-US Spat at G20 Largely Came Down to Dispute over One Word
The final chair statement called for eliminating non-market policies and practices, while China said the wording unfairly singled out its trade model.
- On Tuesday, Treasury Secretary Scott Bessent publicly accused Chinese officials of preventing the G20 from issuing a joint communique after the two-day finance meeting in Asheville, North Carolina.
- Disagreement centered on the inclusion of 'non-market' language, which Chinese officials viewed as a veiled attack on state-owned enterprises that form a foundational pillar of their economy.
- On Wednesday, Bessent reiterated criticism of Beijing's reliance on exports, claiming about 4% of China's GDP funds industrial subsidies, with carmaker BYD as a direct beneficiary.
- China's Commerce Ministry dismissed the accusations in a July white paper, characterizing the critique as a 'typical case of double standards and genuine unfairness' while proposing alternative phrasing.
- Ahead of a high-profile Washington summit between Chinese leader Xi Jinping and President Donald Trump, the clash reflects simmering tensions as Bessent prepares to lead upcoming bilateral talks.
14 Articles
14 Articles
A disagreement between the Chinese and American authorities during a meeting of the Group of 20 (G20) chiefs of finance this week largely revolved around a single word, according to people familiar with the negotiations. US Treasury Secretary Scott Bessen publicly accused on Tuesday Chinese authorities of preventing the group from issuing a joint communiqué after the two-day meeting in Asheville, North Carolina. The American side attributed the …
China-US G20 dispute: How ‘one word’ triggered spat ahead of Trump-Xi summit
A G-20 finance chiefs meeting in Asheville, North Carolina, failed to issue a joint communique due to a disagreement between US and Chinese officials primarily centered around a single phrase....
The Economic Times
Times of IndiaChina-US spat at G20 largely came down to dispute over one word
A G20 finance meeting saw US and Chinese officials disagree over trade language. The core dispute centered on the phrase "non-market" policies and practices. China viewed this term as an attack on its state-owned companies. This disagreement prevented the group from issuing a joint communique. The impasse highlights ongoing trade tensions between the two economic giants.
It was reported that the US and China clashed strongly over a joint statement at the G20 (20 major countries) finance ministers and central bank governors meeting held ahead of the summit at the end of this month. When 19 countries, including the United States, tried to include in a statement criticizing China's state-led industrial policies, etc., China repulsed and rejected it, and it was eventually defeated. An analysis shows that the fight b…
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