U.S. Treasury Secretary calls on IMF to strengthen response to policies that distort competition, seemingly targeting China

U.S. Treasury Secretary Scott Bessent today called on the International Monetary Fund (IMF) to step up efforts to address "distorting policies" that affect market competition, seemingly targeting China.

Agence France-Presse reported that Bessant said: "Some economies have adopted distortive policies that disrupt market competition and harm employment. Policymakers around the world are engaged in difficult negotiations on how to maintain a market-oriented system."

He also pointed out that the purpose of the International Monetary Fund was to prevent such policies and their negative spillover effects. He added that the IMF "must speak out on this critical issue or risk being marginalized."

Although Bessant's remarks did not directly name China, China, as the world's second largest economy, has been criticized for its policies that have led to over-reliance on exports for economic growth.

Critics point out that China's industrial overcapacity and excess production unfairly drive down prices. (Compiled by: Chen Zhengjian) 1151015