Russian President Vladimir Putin said on Monday he and U.S. President Barack Obama had managed to reach understanding of each other and of problems facing the two countries, TASS reports.
Advertisement
“The global recovery lacks momentum”, Xi told reporters after the meeting.
According to a statement issued by the European Union, the G20 notably committed to global action on over-capacity in the steel industry, progress on fair taxation and concerted action in the refugee crisis to tackle its consequences and root causes.
The leaders also pledged to further strengthen the multilateral trading system and ensure broad-based opportunities through public support for expanded growth in a globalized economy.
The news conference wrapped up a three-day stay in Hangzhou, in which Obama also met with the leaders of China, the United Kingdom and Turkey – all countries with complicated but integral relationships to the US. The G-20 agreed to create a forum for producer countries to discuss the issue.
From Sunday to Monday, leaders of G20 members, guest countries and worldwide organizations exchanged views on topics including more effective global economic and financial governance, robust worldwide trade and investment, inclusive and interconnected development. Washington has hiked import duties by 500 percent on Chinese steel to offset what it says are improper subsidies. “So why was it only the United States that didn’t?”
With the summit taking place after Britain’s vote in June to exit the European Union and before the US presidential election in November, G20 leaders had been expected to mount a defence of free trade and globalisation and warn against isolationism.
“China has gone through a similar development stage to India and it still has made significant commitment towards curbing global warming”.
Obama said the meeting was “constructive but not conclusive”. Speaking at the conclusion of the meeting, the International Monetary Fund’s Christine Lagarde said, “There must be more growth and growth must be more inclusive”.
Before the outbreak of global financial crisis in 2008, G20 meetings of Finance Ministers and Central Bank Governors were held to discuss worldwide financial and monetary policies, reform of worldwide financial institutions and world economic development.
While acknowledging that Africa has been exporting raw materials, the expert said the continent wanted to export more such as agricultural products and meat which it was finding hard to do because of standards imposed by developed countries. He noted that talks on Obama’s TPP initiative for Asia-Pacific governments and a U.S.
North Korea fired 3 ballistic missiles into the sea on Monday, South Korea said, in a show of force that collided with the summit. “A metal staircase in the back of the plane”.
At about the same time, Xi was in Hangzhou telling his South Korean counterpart, Park Gyun-hye, that China opposes plans to deploy a US anti-missile system outside South Korea’s capital, Seoul.
Advertisement
But U.S. and other officials say they plan to bring up Chinese industrial overcapacity and other potentially thorny issues.
