G20 leaders and their spouses pose for a group photo before their dinner banquet at the G20 Summit in Hangzhou on September 4, 2016.
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In their communique they promised to “reject protectionism” and “promote global trade”.
By the end of Obama’s three days in Hangzhou, he would have to contend with yet more inconclusive talks on Syria, prickly Turkish allies, a mouthy Filipino ally and attention-seeking North Koreans firing off a battery of ballistic missiles. “India has striven to become a world power and to have a bigger say in worldwide affairs, hence it needs to shoulder its due responsibilities and take actions, regardless of the difficulties, to help save the planet”, it said.
There was even a joint announcement by China and United States that they would ratify the Paris climate change agreement, a significant step for the world’s two biggest emitters of greenhouse gases. Asked by CNN’s Michelle Kosinski about his meeting with Russian President Vladimir Putin, the President described it as “candid” and “blunt” focusing mainly on Syria and Ukraine.
Republican presidential candidate Donald Trump, who supports protectionist trade policies, has pulled into an effective tie with Democratic rival Hillary Clinton, erasing a substantial deficit.
Xi met with German Chancellor Angela Merkel after the conclusion of the summit.
“Obviously it has something to do with the refugee question”. The way I look at this, I don’t just take an instant decision.
One of the few areas where there was progress was in protecting the environment.
Since China took the duty as the hosting country of the 11th G20 summit in Hangzhou late a year ago, it has engaged with other members in an earnest and frequent manner in order to bring about solid outcomes of the yearly gathering.
G20 members, who constitute the world’s 20 wealthier nations, agreed to seek long term policy solutions for global economic weaknesses instead of relying on short term measures like fiscal spending and monetary easing.
Group of 20 leaders pledged to use all available tools to help prop up global growth that’s weaker than it should be while avoiding competitive currency devaluations.
“China has warmly and friendly welcomed all the leaders who are attending the G20 summit, why would we cause problems to the American delegations on objective?” said Hua Chunying, China’s foreign ministry spokesperson. The concerns echoed by the host and the Chinese President Xi Jinping underlines that the global economy should no more be threatened by rising protectionism and risks emanating from highly leveraged financial markets.
“Eight years later, the world economy is again at a critical moment”, Xi said after the summit.
“We agree with the G20’s analysis that the benefits of trade and open markets must be communicated to the wider public more effectively”, said John Danilovich, Secretary General of the Paris-based International Chamber of Commerce.
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After attending his last G20 meeting in China, Obama heads to Laos where he may meet his Filipino counterpart amid controversy. “It may not be everything that needs to get done, but if it’s better than before we started, we’ll take it”. There was no rolling staircase provided for Air Force One when it landed and Obama had to disembark from an exit in the plane’s belly. However, U.S. and European officials say the vast Chinese state-owned industry, which accounts for half of worldwide output, is the root of the problem.
