Group of Seven (G7) finance ministers and central bank governors have pledged to address "excessive imbalances" in the global economy. This effort is widely understood to be aimed at China, although the country's name was omitted from the draft communique.
Officials emphasized the need for a common understanding of how "non-market policies and practices" undermine global economic security. They agreed on the importance of a level playing field and a coordinated approach. This is to address the harm caused by those who do not abide by the same rules and lack transparency.