G-20 Summit Declaration Fails to Mention Fight against Protectionism
Newsfrom JapanEconomy Politics
Buenos Aires, Dec. 1 (Jiji Press)--Leaders from the Group of 20 advanced and emerging economies failed to include wording that shows their resolve to fight protectionism in a joint declaration they adopted at a two-day meeting in the Argentine capital of Buenos Aires through Saturday.
The absence of such a description reflected opposition from the United States at a time when the fierce tit-for-tat trade battle between the country and China, the biggest and second-biggest economies in the world, is becoming a risk to the global economy.
G-20 leaders were unable to show their commitment to oppose protectionism in their documents for the first time since the summit among the 20 economies was launched in 2008 to deal with the global financial at the time.
While reaffirming their "pledge to use all policy tools to achieve strong, sustainable, balanced and inclusive growth," the latest document said that the leaders "note current trade issues."
At a press conference after the two-day meeting, Argentine President Mauricio Macri admitted that the United States refused to include a description related to fight against protectionism in the declaration.
[Copyright The Jiji Press, Ltd.]