G7 finance ministers met in Paris from May 18 to 19 to address global economic issues with a focus on trade imbalances, which some ministers have attributed to China’s weak consumption, production overcapacity, and excessive exports.
Analysts told The Epoch Times that the problems are structural and hard to resolve in the short term, while global trade is veering toward bloc formation–the G7 vs. China and Russia.
The G7 is an annual forum of advanced economies and leading industrialized democracies to coordinate global economic, security, and climate policies.
French Finance Minister Roland Lescure, who chaired the forum, said that “the way the global economy has developed over the past decade or so is clearly unsustainable.”…