China's Objection Halts G20 Unity on Non‑Market Trade Policies

According to Secretary Bitz, China’s resistance centered on four sections of the draft agreement: the handling of energy trade and the Hormuz Strait, the broader global economic imbalance, oversight by the International Monetary Fund, and the restructuring of sovereign debt. The chair’s statement warned that sustained imbalances can distort markets, weaken supply chains, and harm other economies, urging nations to drop non‑market policies that exacerbate the gap. While the group could not secure a full consensus, the 19‑country alignment on the wording signalled a rare degree of agreement on the need for fiscal consolidation and domestic savings incentives.