WTO Director-General Ngozi Okonjo-Iweala warned the UN Security Council that surging global demand for critical minerals risks fueling conflict and poverty in resource-rich nations, urging them to leverage their wealth for local processing and economic transformation.
Protests at the recent G7 summit, though smaller than past events like Genoa in 1999, highlighted wealth inequality and the perceived paralysis of governments against concentrated private capital, symbolized by the burning of a Tesla. The summit also revealed disunity among leaders, particularly regarding Donald Trump's influence and US foreign policy.
China has rejected an OECD report claiming its firms receive significantly higher government subsidies than international peers, calling the findings "one-sided and arbitrary." The Ministry of Commerce stated the report lacks a unified standard and overlooks China's competitive advantages.
China is advancing beyond subsidies in advanced manufacturing, moving from 'old three' textiles to 'new three' EVs, batteries and solar panels, with 'newer three' in AI, robots and medicines. Engineers, supply chain depth and policy execution are key drivers alongside state funding.
