Business war overshadows G20 finance leaders meeting
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Business war overshadows G20 finance leaders meeting
Admin Sat Jul 21, 2018 1:51 pm
13:08 - 21/07/2018
Information / Baghdad ..
The Group of 20 (G20) finance ministers will meet on Sunday in Buenos Aires to discuss threats to global economic growth, especially the threat of a trade war and a crisis in developing countries.
The meeting, which ends on Sunday, is overshadowed by the trade war waged by US President Donald Trump.
This is the first meeting of the G20, which was established in 1999, after Trump imposed additional customs duties on the products of countries in the group.
The US charges targeted countries in the European Union, as well as Canada, Mexico and China, which were reciprocated by these countries by imposing additional charges.
Tension in trade relations between the group members will be the main topic on the agenda of the meeting of finance ministers and central bankers in the group of the world's twenty most powerful economies.
Business leaders around the world want G-20 members to take a firm stand on "protectionist" trade policies, unlike their positions in recent times.
The theme of the group members taking a common position on "protectionist" policies is one of the most important points of concern for the meeting.
IMF chief Christine Lagarde warned Wednesday that the US economy was "particularly vulnerable" to the global trade war, stressing that the war could lead to the loss of hundreds of billions of dollars of global GDP.
The Group includes the European Union and 19 countries: the United States, Mexico, Canada, Brazil, Australia, Turkey, Argentina, Britain, France, Germany, Italy, And Saudi Arabia.
In addition to representatives of the G-20 member States, representatives of international organizations such as the International Monetary Fund, the World Bank and the Organization for Economic Cooperation and Development will participate in the meeting.
The group members control about 85% of the world economy, and Argentina currently holds the rotating presidency of the group. is over/
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