The entire global economy is at risk from a glut of cheap Chinese exports, French Finance Minister Bruno Le Maire said, adding to a barrage of concerted criticism from the Group of Seven.
“We have a problem with the economic model in which China produces increasingly cheaper industrial equipment, because this could be a threat not only to the EU, not only to the US, but also to the global world economy,” Le Maire said in an interview with Bloomberg Television. “We need to address that problem.”
Leading industrialized countries are joining forces for a tougher and more concerted challenge to China’s overcapacity, which they say threatens their domestic producers.
