“We extend our commitments to standstill and rollback of protectionist measures till the end of 2018, reaffirm our determination to deliver on it and support the work of the WTO (World Trade Organization), UNCTAD (United Nations Conference on Trade and Development) and OECD (Organization for Economic Cooperation and Development) in monitoring protectionism”, the G20 said in a joint communique after a two-day meeting between leaders of 20 wealthier nations.
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White House spokesman Ned Price said Obama and Putin were huddling on the sidelines of the Group of 20 economic summit, with details of their informal meeting expected to be released later Monday.
With the summit taking place after Britain’s vote in June to exit the European Union and before the USA presidential election in November, observers expect G20 leaders to mount a defense of free trade and globalization and warn against isolationism.
The leaders were also determined to improve global economic and financial governance to enhance the resilience of the world economy, and to revitalize worldwide trade and investment as the key engines of growth and build an open world economy, the president said.
“It is important to not just fix the problems of the past but to lay the foundations for future growth – growth that will to a large extent be driven by new ideas and technologies”, he said.
“We are determined to break a new path for growth to inject new dynamism into the world economy”, Xi said, adding that a G20 Blueprint on Innovative Growth was unanimously adopted at the summit.
Commit to using all policy tools – monetary, fiscal and structural – to foster confidence and strengthen growth.
“But actions speak louder than words and the ball is in China’s court to implement its own needed domestic reforms and to provide greater market access for foreign goods, services and technology”. “What I’ve instructed my team to do is talk to their Philippine counterparts to find out is this in fact a time where we can have some constructive, productive conversations”.
Obama sought to play down the airport “kerfuffle” on Sunday hinting that his Chinese hosts might have found the size of the U.S. delegation “a little overwhelming”.
Jia Qingguo, a professor and dean at the School of International Studies at Peking University, said the South China Sea disputes and the anti-missile system would pop up in Vientiane.
China has accused Australia of bowing to protectionist sentiment in blocking the bid for Ausgrid, as well as an earlier one by a China-led consortium to buy cattle company Kidman & Co. At the same time, a European leader highlighted the conflicts looming over the summit by calling for action on China’s bloated steel industry.
According to AP, Mr Duterte reportedly lost his cool in a news conference shortly before flying to Laos after while he was warning Mr Obama not to question him about the more than 2400 lives that have been claimed just in the past two months due to the Philippines war on drugs.”You must be respectful”.
Britain’s future after its departure from the European Union was also subject to discussion. “We are really insisting on the need to take this seriously”.
EU President Donald Tusk said in Hangzhou at the weekend that Europe was “close to limits” on its ability to accept more refugees and urged the broader worldwide community not to shirk its responsibilities.
Obama held talks with Xi on Saturday that ran late into the night.
The pull-aside meeting will be the pair’s last face-to-face exchange before Obama leaves office in January.
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The Chinese state media was quick to criticise India.
