China accuses G20 nations of protectionism in trade dispute
The Chinese Commerce Ministry rejected a G20 statement on export reliance, labeling it an excuse for protectionism. Beijing stands as the sole G20 member to oppose references to global economic imbalances.
China accused other G20 nations of promoting protectionism after they released a joint statement criticizing economies that rely heavily on exports. U.S. Treasury Secretary Scott Bessent reported that 19 of the 20 members agreed to address an unsustainable equilibrium caused by a stream of cheap exports. Beijing was the only member to dissent from the final wording over references to such imbalances. The Commerce Ministry pushed back on trade complaints from the United States and Europe, calling them an excuse to pressure and restrict China. Ling Huang, the Commerce Ministry spokesperson, stated that exploiting multilateral mechanisms to hype up economic imbalances and overcapacity is essentially protectionism. She added that such actions will disrupt the global economic order and harm healthy global development. These comments emerged amid anticipation for President Xi Jinping's upcoming trip to Washington, D.C.
