Yesterday China’s President Xi Jinping told leader’s to avoid empty talk and focus on the world economy, which he described as at a “critical juncture”.
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“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.
The two leaders tried to downplay the impact on U.S.
Officials say they want the G20, created to coordinate the response to the 2008 financial crisis, to take on a longer-term regulatory role. “China has provided a global consensus at the Hangzhou summit that will drive global joint action”.
Putin, Obama said, is “less colorful” than another confrontational leader, Philippine President Rodrigo Duterte, who earlier Monday warned Obama against raising his controversial record combating drug crime in an anticipated meeting. Washington has hiked import duties by 500 percent on Chinese steel to offset what it says are improper subsidies. But that is half of China’s estimated excess capacity of 300 million tons, so deeper cuts would be required to bring it in line with demand. “That’s a big shift, and China should be praised for doing that”, said Denton.
“We must all work together to spur economic growth, to boost free trade and build a fairer economy that truly works for all”.
The world s leading economies spoke out against a return to protectionism and defended the unfashionable concepts of free trade and globalisation Monday, warning the listless global economy needs an urgent reboot.
The International Monetary Fund s Christine Lagarde conceded that globalisation “has to benefit all, not a few”, but said that the fruits of a connected world were severely undersold.
It said new challenges including terrorism and immigration complicated the global economic outlook, and that the G20 agreed use all policy tools available to drive strong and sustainable growth. -European pact have slowed or stalled. 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.
As Ranking Member of the Foreign Relations Committee I will find opportunities to encourage foreign leaders to follow the USA example and urge the expedition of other nation’s efforts to join the Paris Agreement, because there is no time to waste.
The U.S. says that and other recent tests violate U.N. Security Council resolutions and pose a threat to aircraft and ships nearby.
The White House has said it could still win congressional approval of the trade pact before Obama leaves office, and warned that failing to do so would undermine US leadership in the region and allow China to increasingly set the terms of world trade.
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Obama departs China Monday evening local time for Laos.
