The G7 trade ministers met on on 14 and 15 September. They clearly target China's economic model in their released communique after two days of discussions in Germany. Globalisation is fine but only according to their economical, political and cultural preferences.
1. Level playing field in the white mind: no use of subsidies and no state owned enterprises. When those are present the economic playing field is unfair. Targets China's mixed economic model.
2. We will develop new tools and international rules: they want to change the WTO rules book so that China will be forced to change its economic model more according to their taste: neoliberalism.
"Levelling the playing field and addressing economic coercion
We will sustain and further step up our efforts working toward a level playing field through more effective use of existing tools, as well as developing appropriate new tools and stronger
international rules and norms on nonmarket policies and practices. Our shared concerns Include unfair practices, such as all forms of forced technology transfer, intellectual property
theft, lowering of labour and environmental standards to gain competitive advantage,
market-distorting actions of state-owned enterprises, and harmful industrial subsidies, including those that lead to excess capacity.
We will also promote discussions at the WTO on how to improve transparency to shed light on and reduce challenges posed by non-market policies and practices that harm the global economy, and on modernizing the global trade
rulebook. We thank the OECD for its work in this area."
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