look news india
New Delhi/Stresa (Italy): The G-7, a group of seven major economies of the world, has condemned China's global trade policies. This is another big blow to China after the US also announced heavy import duty on Chinese imported goods. After a long-running tension, the G-7 has now attacked China over its participation in the global system. The leading business leaders of these countries have shown solidarity and criticized China's policies.
The G-7 has expressed concern over the impact of China's anti-market policies on the global economy and warned of taking retaliatory steps. Ministers of the G-7, a group of seven countries from the US, Canada, France, Germany, Italy, Japan and Britain, and the heads of their central banks gathered in Stresa, Italy on Saturday. A declaration was made at the end of that meeting. In which China was accused of harming the economies of its trading partners. China was condemned in clear words. They said in a joint statement, “Although we support satisfactory and mutual cooperation, we are concerned about China's widespread use of anti-market policies and practices. Therefore our workers, industry and economic conditions undermine the founders. We will continue to monitor the possible negative effects with full capacity. And will take steps to ensure equal opportunity.”
It is worth noting that this warning to China from the G-7 has been given just a few days after the US announced last week to impose heavy import duties on imports from China. Just a few days ago, the Biden government has increased the import duty several times on items like electronic cars, batteries and steel, solar panels and computer chips imported from China.
The US has been pressuring China in this way for a long time. US Treasury Secretary Janet Allen said that leaders of Germany, France, several European Union countries and other G-7 countries were present in that meeting.