G20 likely to fail to curb overcapacity

Trade rows arising from excess industrial capacity are expected to continue to flare as a global forum recommended by the Group of 20 leaders will likely fail to tackle the root of the issue, experts say. China has been blamed for flooding global markets with cheap steel, threatening jobs in the United States and Europe, the South China Morning Post reports. World leaders attending the two-day G20 summit in Hangzhou that wrapped up on Monday agreed to work together to tackle the issue. But a communiqué released after the meeting did not single out China and avoided introducing binding limits. Instead, it called for increased information sharing and cooperation through the formation of a global forum on excess steel capacity.