G7 nations to take tougher stance on trade with China: German official
The Group of Seven major economies have agreed to take a tougher, more coordinated stance toward China when it comes to trade, Germany's economy minister said Thursday.
After a two-day meeting with fellow G-7 officials, Minister for Economic Affairs and Climate Protection Robert Habeck told reporters that discussions about China were part of an effort to ensure high international trade standards and to prevent Beijing from using its economic might to steamroll other nations.
The naivety toward China is over, Habeck said, referring to Germany's own position on China. The time when one said Trade, no matter what,' regardless of the social or humanitarian standards, ... is something we shouldn't allow ourselves anymore.
He said Germany would work to persuade the European Union to establish a more robust trade policy toward China and respond as Europeans to the coercive measures that China takes to protect its economy.
The other partner countries will do exactly the same, Habeck said,