The ministers of finance and the presidents of the central banks of the G7 countries have committed themselves to managing “excessive imbalances” in the global economy, said Bloomberg News Thursday, citing a draft of the declaration.
The financial authorities said that there was a need for a common understanding of how “non -commercial policies and practices” undermine international economic security, said Bloomberg News.
The text requires an analysis of the “market concentration and resilience of the international offer chain”, according to the report.
The leaders said they agreed “with the importance of a playing field and the adoption of an approach widely coordinated to face the damage caused by those who do not comply with the same rules and are not transparent,” he said.
The report states that the sketch of the document does not mention China, but recognizes an increase in what they called international remittances with low value, also called “minimis” packages, usually Chinese retailers such as Temu and Shein.
The G7 countries take into consideration the options to increase sanctions in Russia if a fire with Ukraine is not reached, says the relationship.
Reuters could not immediately confirm reports.
The financial leaders of the G7 countries – the United States, the United Kingdom, Canada, France, Germany, Italy and Japan – are gathering in Banff, Canada.
Reports can be part of a final declaration prepared to summarize three days of meetings between the authorities.
Source: Terra
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