G20 nations back measures on China's exports
The G20 report calls for measures against China's non-market trade policies, which have caused global economic imbalances and increased dependence on cheap exports. Nineteen members agreed on the need to eliminate policies leading to excessive trade surpluses, with China objecting to some related provisions. The statement noted that China's expanding exports, especially in electric vehicles and semiconductors, raise global concerns, particularly given weak domestic demand in China, where exports rose by 23.9% in July. The group also urged avoiding unnecessary export restrictions to ensure the continuity of global supply chains, emphasizing the importance of cooperation to achieve a balanced global trade environment.
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