G20 Breaks with China Over Trade Imbalances Amid Growing Blockchain Focus

The G20 meeting in Asheville, North Carolina, from August 31 to September 1 saw finance ministers and central bank governors agree on a joint economic statement with one notable exception: China.

China objected to sections covering global trade imbalances, specifically disagreeing with language calling on countries with large, persistent trade surpluses to rely less on exports and boost domestic consumption instead.

The G20's focus on blockchain-based finance is growing, with the official statement recognizing its transformative role in supporting broad-based economic growth while stressing the need to preserve financial stability alongside innovation.