On a press conference during the G20 summit held in the Chinese city of Hangzhou, May said that relations between China and the United Kingdom are “about more than Hinkley”.
Advertisement
On other fronts, the United States tried but failed to finalize a deal with Russian Federation for a ceasefire in Syria on the sidelines of the summit.
“The one thing that we have to ensure we do is to move in concert with other countries, because there is always a danger that if one. acts unilaterally, that it’s not just a matter of a USA company being impacted, but it may also have an impact in terms of our ability to collect taxes from that same company”, Obama said.
The US secretary of state John Kerry and Russian foreign minister Sergey Lavrov have for weeks been trying to broker a deal to curb the violence between the Assad’s government forces, which are allied with Russia, and moderate rebels backed by the US.
They also pledged to not devalue currencies by boosting exports.
The two-day G20 summit hosted by China has hammered home the message that the time has come for the multilateral body to be translated into a forum of action.
Obama has made the 12-nation TPP the centerpiece of a diplomatic “pivot” to Asia, but the prospects for United States congressional approval have looked increasingly dim, with both major presidential candidates – Democrat Hillary Clinton and Republican Donald Trump – standing opposed.
In Germany, Chancellor Angela Merkel’s party was relegated to third place behind an anti-immigrant party in a regional election on Sunday. “Obviously it has something to do with the refugee question”.
India came under pressure to ratify the deal after China and the United States – responsible for around 40 percent of the world’s carbon emissions – ratified the agreement ahead of the G20 summit and handed over their countries’ instruments of joining the agreement to UN Secretary-General Ban Ki-moon on Saturday.
One of the few areas where there was progress was in protecting the environment.
The European Commission said last week that Apple Inc. owed up to 13 billion euros ($14.50 billion) in back taxes to Ireland, based on existing regulations, a decision that both Apple and Ireland, which relies on low taxes to attract investment, have vowed to fight. “Eight years later, the world economy is again at a critical moment”, Xi said after the summit. Despite having differences of opinion, G20 leaders have agreed to emphasise on a joint communiqué which will include all policy measures starting from monetary, fiscal and structural reforms so as to achieve solid and sustainable economic growth among the group.
China and Britain should increase mutual political trust and appropriately handle disputes, Chinese President Xi Jinping told British Prime Minister Theresa May, as the two nations grapple with a delayed $8 billion (6.01 billion pounds) nuclear power investment from China.
“We must all work together to spur economic growth, to boost free trade and build a fairer economy that truly works for all”, he said.
Advertisement
“The faster we can offer some relief to folks on the ground”, he said, “the better off we’re going to be”.
