Leaders of the world’s 20 richest countries have been told to avoid empty talk as they try to kickstart the world economy. The warning came from Chinese president Xi Jinping as he opened the G20 summit in Hangzhou. He said the global economy was recovering but the world had high expectations of the two-day meeting. Mr Jinping called on leaders to take steps to boost trade and investment and avoid protectionism. “We should turn the G20 group into an action team, instead of a talk shop,” he told them.
Against risks and challenges facing the world economy, the international community has high expectations of the G20 in the Hangzhou summit.
The meeting comes at a crucial moment for the world economy, with China struggling to maintain the pace of growth of recent years, Britain’s shock vote to leave the European and with elections looming in the U.S. “We should build an open world economy,” Mr Xi said before an audience that included president Barack Obama, German chancellor Angela Merkel, British prime minister Theresa May and leaders from Japan, South Korea, India and other governments. His remarks came hours after China and America ratified the Paris Agreement on climate change, giving a boost to efforts to bring the accord into effect by the end of this year. Security issues on the agenda will include the war in Syria and military tensions in the South China Sea.
Overcapacity is a global problem but there is a particular Chinese element
European Commission president Jean-Claude Juncker