THE DEPARTMENT OF COMMERCE RESPONDED THAT THE U.S. USED THE G-20 TO MAKE SO-CALLED “ECONOMIC IMBALANCES” ARGUMENTS

ON 3 SEPTEMBER, DURING A REGULAR PRESS CONFERENCE ORGANIZED BY THE MINISTRY OF COMMERCE IN RESPONSE TO QUESTIONS RAISED BY THE UNITED STATES SECRETARY OF THE TREASURY, MR. BESENT, IN HIS RECENT REMARKS ON CHINA, THE MINISTER OF COMMERCE, MR. HWANG LING, SAID THAT CHINA WAS OF THE VIEW THAT THE USE OF MULTILATERAL MECHANISMS SUCH AS THE G-20 TO PROMOTE SO-CALLED “ECONOMIC IMBALANCES” AND “OVERCAPACITY” WAS ESSENTIALLY A FORM OF PROTECTIONISM AND TO JUSTIFY THE IMPOSITION OF RESTRICTIONS ON HIS COUNTRY, WHICH CHINA CATEGORICALLY REJECTED. THIS WILL ONLY DISRUPT THE GLOBAL ECONOMIC AND TRADE ORDER AND UNDERMINE THE HEALTHY DEVELOPMENT OF THE GLOBAL ECONOMY. COUNTRIES SHOULD ADHERE TO MULTILATERALISM, STRENGTHEN POLICY COMMUNICATION AND COORDINATION, EXPAND OPEN COOPERATION, JOINTLY MAINTAIN STABLE AND SMOOTH GLOBAL PRODUCTION SUPPLY CHAINS AND PROMOTE MUTUALLY BENEFICIAL WIN-WIN OUTCOMES. XINHUA