August 22, 2019
Latest News

G20 anticipates moderate growth, warns there are still risks

By Agustín de Gracia

Fukuoka (Japan), Jun 9 (EFE).- The Group of 20 believes that growth on a global scale will recover moderately in the remainder of 2019 and into 2020.

It said it will continue to monitor trade and geopolitical tensions that are slowing down the world’s economy.

These were the main conclusions of a statement approved at the end of a two-day meeting in the Japanese city of Fukuoka of finance ministers and central bank governors of the G20.

The meeting saw representatives of the United States and China, who have since last year been facing a trade war provoked by the White House, sitting at the same table.

"Global growth seems to be stabilizing, and is generally projected to pick up moderately later this year and into 2020," said the statement, which included the 14 points discussed during the meeting.

The statement also said growth remained low and trade and geopolitical tensions had “intensified.”

The meeting took place ahead of a G20 summit to be held on June 28 and 29 in the Japanese city of Osaka, where high-level dialogue between the US and China could see moves towards closing the chapter on the trade war.

US Secretary of the Treasury Steven Mnuchin and the governor of the People's Bank of China, Yi Gang, held a meeting on Sunday, talks the former said was constructive.

Mnuchin had already specified the meeting would not be about negotiating and that results could be seen in Osaka when the presidents of both countries, Donald Trump and Xi Jinping, cross paths.

Japan’s minister of finance, Taro Aso, made it clear that he could not confirm whether someone in the meeting had openly criticized the US.

Aso did make reference to some of the geopolitical risks referred to in the final statement, citing Crimea and Venezuela among them, besides the trade tensions between the US and China.

He said the group was not focusing on one country but rather looking into trends.

France’s minister of the economy, Bruno Le Maire, said talks had "shown great concern” over a trade war between the US and China, adding that all parties had called for tensions to be dialed down.

Le Maire said the Group had called for "everything possible" to be done in order "to avoid a trade war that would have a lasting and profound negative impact on growth."

The joint statement said international trade and investments were paramount for growth, productivity, innovation, job creation and development.

ag-ahg/sh

Related content

G20 financial leaders say trade tensions have "intensified"

By Megumi Fujikawa

Fukuoka (Japan), Jun 9 (efe-epa).- The Group of 20 finance leaders on Sunday acknowledged that trade tensions have "intensified," indirectly reaffirming a view that the escalating trade dispute between the US and China is starting to weigh on the global economy, according to a report from Dow Jones Newswires supplied to Efe.

"Most importantly, trade and geopolitical tensions have intensified," the G-20 finance ministers and central bank governors said in a joint statement released at the end of a two-day meeting held in the southern Japanese city of Fukuoka.

"We will continue to address these risks, and stand ready to take further action," it said.

They also said risks are tilted to the downside, although the global economy is expected to pick up moderately later this year and into 2020.

While expressing concerns over the impact of trade frictions on the economy, the communique didn't mention how the nations would resolve such issues or how they are going to react if the risks materialize.

Due to fights between the US and China, such statements have become a struggle at recent gathering of world leaders, added the Dow Jones report.

In November 2018, members of the Asia-Pacific Economic Cooperation failed to issue a communique for the first time in its nearly three-decade history. EFE-EPA

dj/sh

News history
Russia launches humanoid robot on a mission to Space Station

Moscow, Aug 21 (efe-epa).- Russia launched Thursday its first humanoid robot astronaut to the International Space Station in a critical test flight before...

Qantas to test 19-hour non-stop flight toll on passengers, crew

Sydney, Australia, Aug 22 (efe-epa).- Qantas is to test three approximately 19-hour ultra long-haul flights to see what toll they would take on passengers...

Air New Zealand reports earnings fell by 31 percent

Sydney, Australia, Aug 22 (efe-epa).- National airline Air New Zealand's annual earnings for the financial year 2019 fell by 31 percent due to rising fuel...

Qantas posts 17-percent drop in earnings

Sydney, Australia, Aug 22 (efe-epa).- Australian flag carrier Qantas posted a 17 percent drop in profit before tax owing to an increase in fuel costs and...

Nur-Sultan, Aug 21 (EFE).- The foreign ministers of the five Central Asian countries met here Wednesday with US Under Secretary of State David Hale to...

Bilateral deal reached on Mexican tomato exports to US

Mexico City, Aug 21 (efe-epa).- A bilateral agreement has been reached on Mexican tomato exports that will bring a halt to a United States anti-dumping...

Samsung at risk of losing its semiconductor leadership, says report

Seoul, Aug 21 (efe-epa).- Samsung is on its way to losing its leadership in semiconductor global sales to Intel, according to a leading semiconductor market...

Breathtaking spots offer tourists birdseye views of Uruguay's capital

By Sarah Yañez-Richards

Stabilizing peso is priority, Argentina's new finance minister says

Buenos Aires, Aug 20 (efe-epa).- New Finance Minister Hernan Lacunza said Tuesday that his main goal would be shoring up the Argentine peso, which has...

Butterfly wings could hold key to fighting forgery

By Snezana Stanojevic

Focus is on Macri's goals, Argentina's incoming finance minister says

Buenos Aires, Aug 19 (efe-epa).- Incoming Argentine Finance Minister Hernan Lacunza said Monday that he could not discuss the details of his meeting with...

US gives China's Huawei another 90-day reprieve on sanctions

Washington, Aug 19 (efe-epa).- Chinese tech giant Huawei Technologies on Monday criticized the sanctions imposed by the Donald Trump administration as being...

Iran faces the scourge of fuel smuggling

By Artemis Razmipour

China urges Trump to keep his word, allow business with Huawei in US

Beijing, Aug 19 (efe-epa).- Beijing on Monday urged Donald Trump to keep his word and allow companies in the United States to do business with Chinese tech...

Japan's trade deficit widened by 9.8 percent in July

Tokyo, Jul 19 (efe-epa).- Japan had a trade deficit of 249.6 billion yen ($2.35 billion) in July, a 9.8-percent increase compared to the same month last...

Trump acknowledges US' interest in buying Greenland from Denmark

Washington DC, Aug 18 (efe-epa).- The president of the United States on Sunday said that Greenland was strategically interesting for his country, although...

Trump defends China policy, says US economy is world's best

Washington, Aug 18 (efe-epa).- President Donald Trump on Sunday defended his strategy versus China, on whose goods Washington has imposed heavy tariffs as...

Anti-government rally in Hong Kong

By Steven Russolillo, Joanne Chiu and Eli Binder

Lacunza to be Argentina's new treasury minister as Dujovne quits

Buenos Aires, Aug 18 (efe-epa).- President Mauricio Macri said Sunday that Hernan Lacunza "is the right person" to replace former Finance Minister Nicolas...

Quito video art makes viewers reflect on migration, environment and memories

Quito, Aug 16 (efe-epa).- An unprecedented exhibition in the Ecuadorian capital is making viewers reflect on such concepts as migration, the environment and...

Delivery workers unite to protect themselves from Mexico City dangers

By Zoilo Carrillo

Woody Allen wraps up filming of new romantic comedy set in Spain

San Sebastian, Spain, Aug 16 (efe-epa).- American director Woody Allen on Friday completed shooting on his latest movie, a romantic comedy filmed in Spain...

UK government names Ataer Holdings preferred bidder for British Steel

By Oliver Griffin

Foreign tourism to Mexico up 7 pct. in 1st half of 2019

Mexico City, Aug 15 (efe-epa).- The number of foreign tourist arrivals in Mexico in the first half of 2019 rose 7 percent relative to the same period of...

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.