APEC finance ministers warn persistent global imbalances risk growth and stability

Senior Pacific Rim finance officials say global economic imbalances are bringing persistent risks and have pledged to improve cooperation and communication.  In a joint statement after two days of meetings in Hong Kong, the finance leaders of the Asia-Pacific Economic Cooperation forum emphasized Wednesday that rebalancing of trade is their common interest. However, they did not elaborate on specific measures to be taken.

The meetings, in preparation for an APEC summit next month in the nearby Chinese city of Shenzhen, come at a time when global policymakers are highlighting the need to rebalance trade with China. Its trade surplus this year is expected to exceed 2025’s record $1.2 trillion.

The officials also pointed to risks from geopolitical tensions and vulnerable supply chains.  “We note that global imbalances have persisted, creating risks to growth and stability,” the statement said.

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