President Xi Jinping said in a speech after the close of the proceedings that member nations committed to combat protectionism and revive worldwide trade and investment.
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President Obama is in China for the G20, meeting with world leaders to address problems that concern us all, from Syria to Ukraine to cybersecurity and the USA elections.
Administration officials had said that Obama would make the case for the TPP during his visit to Asia, including in a speech he has scheduled in Laos today.
Chinese President Xi Jinping (R) shakes hand with British Prime Minister Theresa May before their meeting at the West Lake State House on the sidelines of the G20 Summit, in Hangzhou, Zhejiang province, China, September 5, 2016.
“For the world’s major developed economies, they should curb rising protectionism and dismantle anti-trade measures as economic isolationism is not a solution to sluggish growth”, China’s official Xinhua news agency said late on Monday.
“I’m very unsatisfied with the outcome of the election”, Merkel told reporters in Hangzhou.
And calls to utilize innovation as an economic driver should reflect policies that encourage an environment promoting fair and market-driven innovation that is open to all participants, and not just a few domestic champions, Zimmerman said.
China and the United States ratified the Paris agreement on cutting climate-warming emissions on the eve of the G20 summit, setting the stage for other countries to follow suit.
Speaking at a press conference without taking questions, Mr Xi said the two-day summit – the first hosted by China – would be remembered for turning the G-20 from a crisis-response forum into a long-term global economic governance body.
The economy is recovering, but growth has been weaker than expected and downside risks remain, the communique said.
He said that the G20 bloc had provided “an absolute opening for Argentina”.
A G20 Leaders’ Communique of the Hangzhou Summit was adopted to set out the direction, targets and steps of G20 cooperation and depict the blueprint for future world economy.
“We agreed to improve G20 trade and investment mechanisms, endorse the G20 strategy for global trade growth and move towards inclusive and coordinated global value chains”. The Chinese allegedly snubbed the president by failing to roll out a staircase and red carpet for Air Force One, though they claim it was what the U.S. wanted.
May has asked her security advisers to review the project.
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When he left China yesterday, he boarded Air Force One via a full-sized staircase provided by Hangzhou International Airport.
