Chengdu . The world’s major economies will make more efforts to boost global growth and sharing the benefits more broadly, said Saturday senior officials seeking to cope with the aftermath of the departure of UK EU and discontent with globalization.
the finance ministers and central bankers from the G20 are meeting this weekend in Chengdu, a city in southwest China, to discuss how to respond to global challenges, exacerbated by the surprising British decision to leave the European Union, a measure known as “Brexit”.
the specter of protectionism, fueled by the rhetoric of “America first” Republican presidential candidate Donald Trump, who has also spoken to abandon trade agreements, also flying over the meeting.
“the recovery continues but remains weaker than desirable. Meanwhile, the benefits of growth should be shared more widely among countries to promote inclusion way, “said the G20 ministers in a draft communique of the meeting, which was seen by Reuters on Saturday.
draft, which could undergo changes before being published at the end of the meeting on Sunday afternoon, said that the “Brexit” added another uncertainty to the world economy, although members of the G20 are “well positioned to proactively address their possible economic and financial “consequences.
the US Treasury secretary, Jack Lew, said it was important that the G20 countries impulsasen shared growth using all policy tools, including monetary and fiscal policies, as structural reforms to increase efficiency.
“This is a moment that is important to us all redouble our efforts to use all policy tools available to us to promote shared growth” Lew told reporters said.
the Chinese Finance Minister Lou Jiwei, called for greater coordination to promote sustainable growth to the reduced effectiveness of fiscal and monetary tools.
“the G20 countries should increase communication and coordination of policies, form consensus policies and guiding market expectations, making monetary policy more transparent and have more farsighted, and improving the effectiveness of fiscal policy, “Lou said .
This is the first meeting of the G20 after the “Brexit” and marks the premiere of the new British Finance Minister, Philip Hammond, who faced questions about the speed with which the UK plans to take formal negotiations to leave the European Union. Many countries are concerned that a delay will add to the uncertainties that bedevil the world economy.
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