APEC finance ministers warn persistent global imbalances risk growth and stability

Published: 05:33 EDT, 21 October 2026 | Updated: 05:34 EDT, 21 October 2026

HONG KONG (AP) – Senior Pacific Rim finance officials say global economic imbalances are bringing persistent risks and have pledged to improve cooperation and communication.

In a joint statement after two days of meetings in Hong Kong, the finance leaders of the Asia-Pacific Economic Cooperation forum emphasized Wednesday that rebalancing of trade is their common interest. However, they did not elaborate on specific measures to be taken.

The meetings, in preparation for an APEC summit next month in the nearby Chinese city of Shenzhen, come at a time when global policymakers are highlighting the need to rebalance trade with China. Its trade surplus this year is expected to exceed 2025’s record $1.2 trillion.

The officials also pointed to risks from geopolitical tensions and vulnerable supply chains.

“We note that global imbalances have persisted, creating risks to growth and stability,” the statement said.

APEC’s 21 member economies include China, the U.S., Japan, South Korea, Canada and Australia, among other Pacific Rim countries.

APEC signage is displayed in Hong Kong’s financial district during the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting on Tuesday, Oct. 20, 2026. (AP Photo/May James)

U.S. President Donald Trump and Chinese leader Xi Jinping are expected to meet on the sidelines of the summit in Shenzhen.

Chinese finance minister Lan Fo´an, as chair of the APEC finance ministers´ meeting, said members had agreed to improve coordination of economic policies to address risks and challenges.

China´s customs agency said last week that the country´s trade with other APEC economies rose nearly 24% in the first three quarters of this year from a year earlier, driven by surging exports of high-tech products including electric vehicles and lithium-ion batteries.

China’s Finance Minister Lan Fo’an, chair of the 2026 APEC Finance Ministers’ Meeting, holds a news conference at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting at the Hong Kong Convention and Exhibition Centre, Wednesday, Oct. 21, 2026. (AP Photo/Chan Ho-him)

APEC signage is displayed in Hong Kong’s financial district during the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting, on Tuesday, Oct. 20, 2026. (AP Photo/May James)

Hong Kong Marine Police vessel is seen in the foreground of the Hong Kong Convention and Exhibition Centre, the venue of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting, in Hong Kong on Tuesday, Oct. 20, 2026. (AP Photo/May James)

Eduardo Pedrosa, from left, executive director of the APEC Secretariat, China’s Finance Minister Lan Fo’an, chair of the 2026 APEC Finance Ministers’ Meeting, and China’s Vice Finance Minister Liao Min hold a news conference at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting at the Hong Kong Convention and Exhibition Centre, Wednesday, Oct. 21, 2026. (AP Photo/Chan Ho-him)

Sorry we are not currently accepting comments on this article.