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G7 Draft Communique Looking At ‘Harmful’ Trade Practices - Bloomberg

G7
  • MNI (London) - Bloomberg reports that a draft communique formulated at the G7 meeting looks to challenge “harmful practices” and China’s role in world trade, an introduction of much stronger common language compared to that from a year ago in Japan or last month in Washington.
  • “We will advance our cooperation to enhance global economic resilience and economic security and protect our economies from systemic shocks and vulnerabilities,” officials say in the document seen by Bloomberg. “To this end, we will work to make our supply chains more resilient, reliable, diversified and sustainable and to respond to harmful practices, while safeguarding critical and emerging technologies.”
  • Also of note, Bloomberg’s own analysis on the report is that “While fiscal matters didn’t feature prominently on the agenda of the G-7, the ministers do seem to be coalescing on the need to repair public finances in the medium term at a time when most member countries face mounting loads on debts that already exceed 100% of output, sometimes considerably so.”
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