Russian ties and cheap tech: G7 leaders unequivocal in criticism of China

News Snapshot:

China’s role in providing assistance to Russia in its war against Ukraine, and its “harmful overcapacity” in the production of cheap goods, have been targeted by G7 leaders despite misgivings from Germany. On the second day of the annual summit, being held in Puglia under the Italian chair, the US drove home a 36-page communique that condemned Chinese subsidies for products such as solar panels and electric cars which it said were leading to “global spillovers, market distortions and harmful overcapacity … undermining our workers, industries, and economic resilience and security”. US officials were unequivocal in identifying China as a...