One of the highlights of the summit took place of the sidelines of the main event.
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Beijing made boosting sluggish global growth through increased trade a theme of the Group of 20 meeting in this lakeside city southwest of Shanghai, but faces complaints that a flood of low-priced Chinese steel exports threatens United States and European jobs, encouraging calls for trade curbs.
“This discussion goes to the heart of how we build an economy that works for everyone”. The two leaders used the talk to clarify sticking points, the official said.
May said there would be no retreat towards protectionism and that there had been positive reactions from partners about securing new trade deals.
China hopes to use its status as this year’s G-20 leader to increase its influence in global economic management.
China, they said, aims to pursue its proposed initiatives through consensus, and by taking an active role in building a global system of governance, contributing Chinese wisdom and its capacity to plan for the long term.
The World Trade Organization is forecasting global trade growth this year at just 2.8 percent its fifth year below 3 percent.
Obama and Putin spent about 90 minutes in a “constructive” meeting about getting humanitarian aid into the country, reducing violence, and cooperating on combating militant groups, the official told reporters.
“I’ve yet to hear a persuasive argument from the left or the right” against the TPP, Obama argued during the news conference.
“We understand that many of our citizens are frustrated by the pace of globalization and feel they’re not experiencing the benefits of worldwide trade”, Obama said.
He also expects the US will provide help to Laos in dealing with unexploded munitions that remain in the Laotian countryside from the war.
“Free trade must be fair trade”, Juncker said at a news conference with Donald Tusk, president of the European Council.
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.
“The leaders from India, Mexico, South Korea and Singapore said that they would welcome talks on removing the barriers to trade between our countries”, she said.
A USA official said “differences remain” despite two rounds of talks between Secretary of State John Kerry and his counterpart Sergei Lavrov, but that they would meet again in coming days.
China produces half the world’s annual output of 1.6 billion tonnes of steel and has struggled to decrease its estimated 300 million tonne overcapacity, and rising prices have given companies there an incentive to boost production for export.
“This is a global problem, but with a specific Chinese dimension we have to address”, Juncker said.
“If and when we have a meeting, this is something that is going to be brought up”, Obama said, referring to a spate of extrajudicial killings of purported drug dealers that have transpired since Duterte took officer earlier this year.
Juncker defended the EU’s tax order on Apple against US criticism and rejected suggestions that the company was targeted because it is American.
Gurria called on all G20 members to earnestly implement the summit outcomes, saying that if so, they could get multiple benefits.
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United Nations Secretary-General Ban Ki-moon has commended the leaders of China and the United States for formally joining the Paris Agreement on climate change. Uncertainty over the status of trade, immigration and other critical issues has disrupted business activity and prompted anxiety among investors. The State Department has said it wants nationwide cease-fire between Assad’s military and the rebels, rather than another time-limited agreement like ones that failed before.
