At the G20 finance ministers and central bank governors meeting held in Asheville, the United States, the chair country criticized China for accumulating a massive current account surplus and called for correcting imbalances. U.S. Treasury Secretary Bessent accused China, which records a trade surplus of $1.2 trillion (about 190 trillion yen), saying "the world cannot absorb it," and the chair's statement demanded the elimination of "non-market policies that worsen imbalances." China pushed back, but Russia also sided with the majority, and the voices of participating countries were united. Meanwhile, Japan, which continues to see a weak yen and falling bond prices, sought understanding for the Takashi administration's aggressive fiscal policy, but Bessent said "Japan can step back," implicitly urging a policy shift. The IMF warned that current account imbalances would rise to 3.7% of global GDP in 2025, increasing financial vulnerabilities.
US criticizes Japan's weak yen and fiscal policy, urging policy shift, likely strengthening yen or weakening dollar
