PBOC Chief Blames Protectionism for Global Imbalances at G20

China’s central bank governor blamed rising trade protectionism and the broadening of national security concerns for worsening global economic imbalances.

Speaking at a G20 meeting in North Carolina on Aug. 31 and Sept. 1, People’s Bank of China (PBOC) Governor Pan Gongsheng called for structural reforms. Deficit nations should cut fiscal shortfalls and boost savings, while surplus countries need to spur consumption and investment, he said.