Lan Fo'an Urges Coordination at APEC to Prevent Policy Spillovers; Paul Chan Flags AI Overinvestment Risks as Finance Minister Warns International Situation Is 'Highly Uncertain'

The Asia-Pacific Economic Cooperation (APEC) finance ministers' meeting opened in Hong Kong yesterday for the first time. Chinese Finance Minister Lan Fo'an said the current international situation is complex and volatile, and called for stronger macroeconomic policy dialogue and coordination to prevent negative 'spillover effects' from policy adjustments. Hong Kong Financial Secretary Paul Chan raised the risk of overinvestment in artificial intelligence. The meeting continues today and will issue a finance ministers' statement.