Global imbalances are back. Who’s to blame?

Published: October 21, 2026 at 6:24a.m. EDTHONG KONG — Senior Pacific Rim finance officials say global economic imbalances are bringing persistent risks and have pledged to improve co-operation 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 US$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. U. S.

Open this photo in gallery:YMCA members celebrate and encourage one another following a YMCA Arriba group fitness class. SuppliedLesley Davidson is the president and chief executive officer at the YMCA of Greater TorontoRecently, I watched a group of YMCA members linger in the hall after a fitness class ended. The workout was over but the conversations were just beginning. People swapped stories about their week, laughed about a misstep during class and checked in about their families. What struck me wasn’t simply their participation in the program. It was the connection that happened afterward. In a world where we can connect with almost anyone instantly electronically, opportunities for genuine in-person human connection can feel increasingly rare. And it’s not just affecting hybrid workers who lost access to their daily impromptu “water cooler” conversations. Our second annual YMCA Connections Snapshot showed only three in 10 Canadians say they feel a sense of belonging or connection. In-person connection remains incredibly important for everyone. It contributes to well-being and that’s not just good for individuals but the organizations they work for as well.

The person shouted something that could not be heard on the company’s livestream about 20 minutes into the address, before being removed from the auditorium.

Latest NewsPublishedOct 21, 2026The Office of the Comptroller of the Currency’s final rule covers payment stablecoin issuance and some custody activities, with the GENIUS Act framework taking effect in mid-January. The US Office of the Comptroller of the Currency finalized rules Wednesday for payment stablecoin reserves, redemptions and related custody activities, implementing the GENIUS Act for entities under its jurisdiction. The final rule states issuers must maintain reserves worth at least as much as their outstanding stablecoins and generally process redemption requests within two business days. The rule applies to national banks, federal savings associations and federal branches and their subsidiaries, as well as nonbank firms that seek or receive federal qualified issuer status, according to the agency’s announcement. It also covers state-qualified issuers when the OCC has regulatory or enforcement authority over them. The rule and the GENIUS Act will take effect Jan. 18, 2027.

Open this photo in gallery:Wiikwemkoong's Chief Technology Officer Michael McCormick, left, and workers stand outside the community's data centre in Wiikwemkoong, Ont., July 22. Kelvin Chan/The Associated PressFor thousands of years, Indigenous peoples have passed down their traditions and culture through oral storytelling. Now, a Canadian Indigenous community is using a data centre to help preserve its heritage. The Wiikwemkoong Unceded Territory in rural Ontario installed a small data centre as it modernized its recordkeeping systems. Among the digital files it holds are video recordings of Anishinaabe speaking their native language. “Our language is one of the biggest things that most First Nations across the country are losing,” said Wiikwemkoong Chief Tim Ominika. “We will have our knowledge keepers, our language speakers who may be moving on to the spirit world, but their legacy is still going to be protected for many years to come by having our own data systems in place and protecting that.” Open this photo in gallery:Wiikwemkoong Chief Tim Ominika.