Published: Sat, June 29, 2019
Global News | By Blake Casey

G20 heads to stop short of denouncing protectionism in communique - Nikkei

G20 heads to stop short of denouncing protectionism in communique - Nikkei

"There were discussions on how to address common challenges, among them the need to promote free trade" and World Trade Organisation (TWO) reform, he said.

Conceding major downside risks in global economy of which G20 member-states represent 85%, the G20 leaders reaffirmed to use "all policy tools" to realize sustainable, balanced and inclusive growth without pledging to fight protectionism.

Many Group of 20 leaders voiced concern over trade tensions and the risk they pose on the global economy at their meeting in Osaka, western Japan, on Friday, a senior Japanese government official said.

The widening fallout from the U.S.

In a draft communique, the G20 nations also stressed the importance of creating a positive cycle where the benefits of solid growth are distributed broadly across economies, the Asahi said.

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But some European countries are demanding that upcoming summit's communique include language warning against the spread of protectionist policies, the Asahi said.

Calling women's talents, ambition and genius "one of the most undervalued resources in the world", the adviser to the USA president said if women participated in the labor market on an equal footing to men, global annual gross domestic product could rise between $12 trillion and $28 trillion by 2025.

Japan-India-US trilateral meet also figures in the engagements of Prime Minister Narendra Modi where increased connectivity in the Indo-Pacific region is likely to be discussed, amongst other issues.

Ahead of the summit, Mrs May said: "My message to G20 leaders this week is this: it is only through global cooperation and compromise that we can protect our citizens' security and prosperity and make the world a safer and a better place to live". While the internet must be open, free and secure, it also can not serve as a "safe haven for terrorists", the leaders said in a separate statement.

Bilateral talks scheduled for Saturday between Trump and Chinese President Xi Jinping have already gripped the G-20 as the tariff battle between the world's two largest economies threatened to darken the economic outlook given the integrated nature of global supply chains. The language on protectionism was removed at last year's summit in Buenos Aires, nodding to a request by Washington which is sensitive to criticism of the tariffs it is slapping on some G20 members.

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