He addressed the lone dissent of China from the consensus on the economic imbalance caused by cheap exports.
Treasury Secretary Scott Bessent attended the G20 Finance meeting in Asheville, North Carolina, this past week. The members discussed the need to address streams of cheap exports that cause global economic imbalances.
“We believe that non-market-based economies pushing out a never-ending stream of cheap exports is not sustainable,” Secretary Bessent said, describing the sentiment that all but one G20 member had agreed to. “It is clear that the country with the world’s largest and unsustainable current account surplus, the People’s Republic of China, was the dissenter.”
Secretary Bessent also addressed Operation Economic Outcast, which is being implemented against Iran. The secretary said, “The economy doesn’t have to collapse. We just have to have the regime come to their senses.“
As the Lord Leads, Pray with Us…
- For Secretary Bessent to be prudent in his oversight of U.S. economic policies and actions.
- For Chairman Kevin Warsh as he presides over the Federal Reserve and its assessment of the nation’s employment and economy.
Sources: Forbes, MSN, NY Post
