Obama and Russian President Vladimir Putin had a longer-than-expected discussion about whether, and how, they could agree on a deal, a senior US administration official said.
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“We should make the G20 an action team instead of a talk shop”, Xi added, in reply to criticism that the annual summit misses the mark to make concrete action.
“Facing current risks and challenges in the world economy, we will continue to reinforce macro policy communication and coordination”, Xi said.
In this regard, the summit under China’s presidency made a decision to focus on choosing the most effective ways of carrying out structural reforms and identifying new sources of economic growth, she said.
President Xi Jinping said in a speech after the close of the proceedings that member nations committed to combat protectionism and revive global trade and investment. He noted the logo designed for the event of a bridge consisting of 20 lines in light green.
“Globalisation is not only positive, it can also engender inequalities between different groups, different populations”, Germany’s Angela Merkel told reporters on her arrival in Hangzhou.
Freer trade poses a dilemma for the leaders of several countries, who have to contend with rising populism and a perception that the global economic order exemplified by the G20 is not working for ordinary people.
From a humanitarian standpoint, they urged increased aid for surging refugees.
China sees the summit as a showcase for its global leadership credentials, and Asian giant’s geopolitical issues swirled around the gathering.
The sources added that no other country demanded the privileges that the USA sought, and “China had every reason to provide convenient arrangements to foreign reporters” because it wished to successfully host the summit. The country is beginning to close steel factories and Xi in the past has offered to cut 100 million to 150 million tons of steel over the next five years.
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.
“If you’re looking for blood, steel overcapacity was the issue”, the official said.
“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”.
“China is a status quo actor in worldwide economics”, said Derek Scissors, a scholar at the American Enterprise Institute in Washington, who specializes in the Chinese economy.
On Sunday, Obama and Xi ratified the Paris climate change agreement.
Two years ago, the North fired two Rodong medium-range missiles just as Park and Abe were sitting down with Obama at the Hague to discuss a response to the North’s arms programme.
According to the United Nations Secretary General Ban Ki Moon this year’s G20 Summit is unique.
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“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.
