Bessent says 'distortive' economic policies grow imbalances, sap global prosperity

U.S. Treasury ‌Secretary Scott ​Bessent told G20 finance ‌leaders on Tuesday that distortive economic policies like those practiced by ‌China are producing excessive ‌trade and fiscal imbalances that are inhibiting growth, deepening economic ⁠vulnerabilities and ​straining ⁠global prosperity

"Durable growth requires that ⁠our economies compete fairly on productivity, ​innovation, and investment — not ⁠distortive policies that push excess production ⁠into ​global markets," he said in prepared remarks at ⁠the start of a key ⁠G20 ⁠session on reducing global imbalances.