China calls on G20 countries to avoid “empty words” to strengthen the global economy – BBC World

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Image caption Chinese President Xi Jinping said the global economy faced “risks” and “challenges”.

In China the first time is hosting a summit of the Group of 20 major economies in the world, and to inaugurate the meeting President Xi Jinping issued a warning: the global economy, he said, is at a critical point

Xi said that the global economy is beset by volatile markets, weak investment and little sign of a coming revolution. technological or industrial.

And the president urged the G-20 meeting in the city of Hangzhou, to avoid “empty words” when trying to accelerate global economic growth.

Xi also said the global economy is recovering but still faces multiple challenges in finance and trade.

“Given the risks and challenges facing the global economy, the international community has high expectations of the G20 summit Hangzhou, “said the Chinese president.

Risks and challenges

He added that the rise of protectionism is a challenge for economic globalization that is jeopardizing the multilateral trade agreements.

“We hope the summit Hangzhou provide a prescription for the world economy and lead back to the path of strong, balanced, full and sustainable growth,” Xi said.

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Image caption the leaders of the 20 largest economies in the world are gathered in the Chinese city of Hangzhou.

Before the meeting, the International Monetary Fund (IMF) warned that there were likely to again reduce its forecast for global economic growth this year.

the IMF has already reduced its global outlook after the vote Brexit, the output of the United Kingdom of the European Union, d isminuyó its forecast for global GDP growth to 3.1% for 2016 and 3.4% 2017.

Climate and Syria

the G-20 brings together representatives of 85% of world GDP and two-thirds of its population.

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Image caption This is the first summit British Prime Minister Theresa May, and the last of President Barack Obama.

Before the start of the summit there were several diplomatic meetings on a number of issues ranging from climate change to the war in Syria and international trade.

United States and China ratified on Saturday climate agreement Paris, a crucial to implement the treaty against global warming step.

there were also expectations that achieve a breakthrough to solve the long war in Syria.

But negotiations between secretary of State John Kerry and his Russian counterpart, Sergei Lavrov, produced only an agreement to reconvene on Monday.

Crisis steel

The continuous production of cheap steel from China was also an issue discussed on the first day of the summit .

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Image caption This is the first time China is hosting a summit of G-20.

The President of the European Commission, Jean Claude Juncker, said China should solve its problem of overcapacity, and said it was “unacceptable” that the industry European steel has lost many jobs in recent years.

“overcapacity is a global problem but there is a particular Chinese element” Juncker said.

also defended the EU decision to order Ireland to charge the US technology giant Apple, US $ 11,000 million illegal tax advantages.

Juncker said the decision had been made against the United States.

“We base our decisions on facts and on the law,” said Juncker. “This is not a decision against the United States of America.”