Lew Doubles Down, Asks China To Help Address Global Trade Challenges After Strategic Dialogue
China has indicated a readiness to take on more responsibility and contribute more resources to address global trade challenges and can show leadership by pushing for conclusion of the World Trade Organization Environmental Goods Agreement before September’s G-20 Summit in…
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Hangzhou, China, Treasury Secretary Jack Lew said June 16 during a speech (here). Past Chinese leadership “recognized the potent role that foreign trade and foreign investment could play in transforming China’s economy,” Lew said. “Recently, however, there is a growing sense among foreign businesses that they may no longer be welcome as new regulations and legal changes appear to specifically disadvantage foreign business.” The Chinese government made several commitments to help reduce global steel overcapacity during last week’s U.S.-China Strategic & Economic Dialogue in Beijing (see 1606080041).