G-7 Warns of ‘Excessive Imbalances’ in Global Economy

Finance ministers and central bank governors from the Group of Seven nations pledged to address “excessive imbalances” in the global economy, an effort clearly aimed at China, though the final communique omitted the name of the country.

The officials said there was a need for a common understanding of how “non-market policies and practices” undermine international economic security. They said they agreed “on the importance of a level playing field and taking a broadly coordinated approach to address the harm caused by those who do not abide by the same rules and lack transparency.”