Results of the G20 and G2 meeting in Argentina.

/, Quick News China/Results of the G20 and G2 meeting in Argentina.

Results of the G20 and G2 meeting in Argentina.

This year’s G20 meeting had several outstanding issues discussed. This meeting brings together world economies that represent 90% of world GDP, 80% of world trade and covers two-thirds of the world’s population.
The statement stressed the need to improve multilateralism, the need to adjust economies to the new world technological context, a necessary reformulation in the WTO (World Trade Organization) and the ratification of the countries about the Paris climate agreement. However, it is noteworthy that the USA reaffirmed its departure from the deal and that the ideas of President Temer of Brazil are different from the new President Bolsonaro. That is because the new president of Brazil said that he will only accept the agreement if it does not hurt Brazil’s national sovereignty in the Amazon.
However, arguably the most important subject of this meeting is the possibility of an agreement to end the US-China trade war.
Since joining the US government, President Trump has reviewed a series of economic and political agreements negotiated by his predecessors.
Although he achieved successes in some of his renegotiations, due to the representativeness and importance of the USA, in an impasse against China, he came across President Xi. This is not only as good a negotiator as Trump, as it is under his command, the main economic engine of the world today. This is a fight that is known to have no winners.
This impasse has created many uncertainties and bad economic results worldwide. That’s because it generated mainly adverse effects of two types.
The first for the countries themselves. The export sectors experienced high losses, price increases for domestic consumers, inflationary pressures, significant unemployment in the affected industries and a climate of uncertainty for new investments.
The second affected the entire world economy because these countries have significant representation in the global economic and political context.
Thus, this impasse led to a greater protectionist tendency, which affected mainly the developing countries, through the reduction of business opportunities. Also, it has shrunk the investment environment of developed economies. Added to other factors, we will undoubtedly have a year-on-year growth rate below expectations.
Once this impasse is over, the world hopes that trade flows will normalize as soon as possible. With this, we hope to be able to improve the conditions of growth of the economies to reduce their social inequalities more quickly.
Finally, the two great leaders of China and USA are to be congratulated because they have followed the right path of dialogue and partnership. Even with different trade beliefs, both agreed to progressively negotiate conditions, which are positive and constructive for both countries and especially the world.

By | 2018-12-02T09:18:56+00:00 dezembro 2nd, 2018|Quick News Brazil, Quick News China|0 Comments