US urges G20 to cut trade imbalances, focus on China
The two-day meeting of finance chiefs – which saw differences in tone between the US hosts and some of the European participants – came amid a global bond market selloff on worries over growing debt levels and inflation pressures.
European Economy Commissioner Valdis Dombrovskis agreed that China is a major source of economic imbalances, but said the US and Europe both also had roles to play in evening things out.
Japanese Finance Minister Satsuki Katayama, speaking at a news briefing on Monday evening after the first day of talks, said she had told her G20 counterparts that arbitrary export restrictions on critical minerals were harming the global economy and should be withdrawn.
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