While Russia is awaiting the results of the investigation into the plane’s downing, work is in progress to rebuild bilateral relations, Putin said, adding that it might not be as fast as desired by the Turkish authorities. “When you break something, it’s always quick, but rebuilding things is always more hard and demands certain procedures”, the Russian leader said. “If we can not get the type of agreement we want, we will walk away from that effort”, the White House official added.
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“We aim to revive growth engines of global trade and investment”, Xi said in a closing statement.
President Recep Tayyip Erdogan’s spokesman, Ibrahim Kalin, revealed that the Turkish leader had met separately a second time with Russian and U.S. counterparts Vladimir Putin and Barack Obama before leaving the G20 meeting in Hangzhou.
What was perhaps the most important development at the summit was that at a time when the G20 risked becoming less relevant, Xi called for it to become an action team instead of a talk shop.
A noble mission of far-sighted global cooperation to avoid a looming economic crisis brought together a doughty group of nations, representing 85 per cent of the world’s GDP and two-thirds of its population, under the banner of the G20.
“The benefits of trade and open markets must be communicated to the wider public more effectively”, the final communique said.
The giant digital billboards that lit up Hangzhou during the just-concluded G20 Summit have been seen as a symbol of China’s booming innovative prowess.
He called for more innovation to spur economic growth and reforms to global financial and economic management. The measure was pushed through with the threat from the European Union that if China did not agree it could face an adverse decision on its push to be accorded “market economy status” under the World Trade Organisation, which comes up later this year.
Meanwhile Turkish President Recep Tayyip Erdogan said on Monday that he proposed to the U.S. and Russian Federation the setting up of a no-fly zone in northern Syria.
Even International Monetary Fund chief Christine Lagarde swooned over the Chinese use of technology, precision and co-ordination both in the ballet and in devising strategies to right the world economy.
The World Trade Organization is forecasting this year’s global trade growth at an anemic 2.8 percent – its fifth straight year below 3 percent.
The leaders also discussed the situation in Ukraine, as well as cybersecurity.
“We need increased growth, but it must be better balanced, more sustainable, and inclusive so as to benefit all people”, she said.
Rajoy for his part offered praise of Macri’s economic change of direction and pursual of free-trade policies similar to those he favoured in Spain as prime minister, saying that Macri had helped return the country to “the correct path” and opened the door to “growth”.
Greenpeace was also critical given the fact that, in spite of it being a good sign that G20 countries want to ratify the Paris agreements “as soon as possible”, “concrete requirements are still missing, such as that of eliminating subsidies to the coal industry”.
“Back home we’ll have to cut through the noise once election season is over”.
Uncertainty over the status of trade, immigration and other critical issues has disrupted business activity and prompted anxiety among investors.
One of the few areas where there was progress was in protecting the environment.
“There will be no second referendum, no attempt to turn the clock back or get out of this”, May said.
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At the news conference with Obama, May said her government was going ahead with its departure and was looking to create new trading opportunities.
