October 10, 2018 / 9:39 AM / a month ago

Trade rules need to address Chinese excess capacity: EU's Moscovici

FILE PHOTO: European Economic and Financial Affairs Commissioner Pierre Moscovici speaks during a news conference in Brussels, Belgium August 20, 2018. REUTERS/Francois Lenoir

NUSA DUA, Indonesia (Reuters) - Any rewrite of global trading rules must deal with the issue of excess industrial capacity in China, European Commission Economic Commissioner Pierre Moscovici said on Wednesday.

“We absolutely need to address the issue of overcapacities in China. Nobody can say that this is not a problem. This has to be dealt with,” Moscovici said at a trade event at the International Monetary Fund and World Bank annual meetings in Bali.

Reporting by David Lawder; Editing by Simon Cameron-Moore

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