Trade
France Calls for Shared G-7 Assessment of China Overcapacity
- Le Maire says IMF should help with in-depth analysis
- Trade war is in nobody’s interest, French minister says
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French Finance Minister Bruno Le Maire said the Group of Seven needs coalesce on an assessment of excess Chinese industrial exports as Europe tries to avoid getting caught in the cross-hairs of a trade-war.
“China is our economic partner, but China has industrial overcapacities and the G-7 must present a united front to protect its industrial interests,” Le Maire said at a meeting of financial officials from the group in Stresa, Italy.