A disagreement between Chinese and American authorities during a meeting of the Group of 20 (G20) finance heads revolved, to a large extent, around a single word, according to people familiar with the negotiations. US Treasury Secretary Scott Bessent publicly accused Chinese authorities on Tuesday of having prevented the group from issuing a joint communiqué after the two-day meeting in Asheville, North Carolina.
The American side attributed the impasse to divergences over the language used in issues ranging from critical minerals to debt restructuring. But the main point of disagreement was the inclusion of the expression "non-market" in a sentence dealing with trade imbalances, according to sources, who asked not to be identified as they were discussing private matters.
According to these people, Chinese authorities considered the term a veiled attack on state-owned enterprises, which constitute a significant part of the country's economy. The tension between the world's two largest economies manifested itself once again in this international setting, highlighting the difficulties in reaching consensus even in multilateral forums.
