G7 Targets ‘Non-Market’ practices in veiled message to china
G7 finance chiefs met in Banff, Canada, from 21–23 May, vowing joint action on “non-market” practices—widely seen as a warning to China’s state-driven economy.
Finance ministers and central bank governors from the Group of Seven (G7) nations, meeting in the Canadian Rockies from 21 to 23 May 2025, pledged to strengthen coordination against “non-market policies and practices” that threaten international economic security—language widely interpreted as a pointed reference to China’s state-led economic model.
Although the final communiqué did not explicitly name China, the references to harmful subsidies, lack of transparency, and unfair competition clearly echoed longstanding concerns over Beijing’s industrial strategy.
The ministers stressed the need for a “level playing field” and a coordinated approach to address those who “do not abide by the same rules.”
The G7 also raised concerns over the misuse of the “de minimis” duty-free threshold for international package shipments. The communiqué noted a sharp increase in low-value parcels overwhelming customs systems and being used for smuggling.
E-commerce giants such as Shein and Temu, both based in China, were cited as key actors exploiting this loophole to bypass taxes and oversight.
The statement called for global efforts to strengthen supply chain resilience and reduce over-reliance on opaque economic systems.
"We agree on the importance of a level playing field and taking a broadly coordinated approach to address the harm caused by those who do not abide by the same rules and lack transparency," the grouping said.
Although China was not mentioned directly in the sections addressing Russia, the G7 warned that any country supporting Moscow’s war efforts would be barred from participating in Ukraine’s reconstruction—an implicit warning to Beijing, which Western nations have accused of supplying dual-use goods to Russia in defiance of sanctions.
"We found common ground on the most pressing global issues that we face," Canadian Finance Minister Francois-Philippe Champagne told the closing press conference.
"I think it sends a very clear signal to the world ... that the G7 is united in purpose and in action."
The Chinese embassy in Ottawa declined to comment on the G7 statement.
The meeting, held in Banff, Alberta, set the stage for the G7 leaders' summit scheduled for 15–17 June 2025 in nearby Kananaskis.
