Us Treasury Slams China’s Trade Model | Urges Urgent Global Rebalancing

At nan Institute of International Finance, U.S. Treasury Secretary Scott Bessent made a bold statement: China must alteration — now. Responding to President Trump's tariff strategy, Bessent revealed that complete 100 countries are aligning pinch nan U.S. to reset nan rules of world trade. In a beardown rebuke of China’s existent economical model, he warned that its reliance connected manufacturing and export overcapacity is worsening world imbalances. Bessent stressed that China’s path—exporting its measurement retired of economical trouble—is not only unsustainable but harmful to nan world economy. He called for a displacement successful China's priorities: distant from manufacturing power and toward bolstering home consumption. Only then, he argued, tin existent rebalancing happen. But China isn’t nan only target. Bessent besides criticized nan world overdependence connected U.S. demand. From excess savings successful Asia to costs suppression policies, he pointed retired really these practices are undermining world stability. He besides cited erstwhile ECB President Mario Draghi’s warnings connected European stagnation.