China’s outsized role in global trade is worrying global financial leaders, who are poised to forge a united front in Italy and push their countries to crack down on “harmful practices.”
A draft communiqué formulated at the Group of Seven meeting in the lakeside resort of Stresa introduces a much stronger common language than the club adopted a year ago when it met in Niigata, Japan, and last month in Washington.
“We will advance our cooperation to enhance global economic resilience and security and protect our economies from systemic shocks and vulnerabilities,” officials said in the document seen by Bloomberg. “To this end, we will work to make our supply chains more resilient, reliable, diversified, sustainable and responsive to harmful practices, while protecting critical and emerging technologies.”
