Xi at the G20: The world economy is threatened – Swedish Dagbladet

Xi Jinping and Barack Obama drinking tea together during the meeting. Photo: Carolyn Kaster / TT

The global economy is threatened by rising protectionism and risks of highly leveraged financial markets, warned Xi Jinping at the two-day G20 summit began Hangzhou. Multi-million city described as having turned into a “ghost town” in the wake of the extremely tough security measures that local authorities have taken.

The world economy is at a crucial stage, continued Xi and urged the G20 members to put their words into action . The goal of the meeting is that it will culminate in a joint statement on reforms that will contribute to stable and sustainable economic growth.

– We should do on the G20 to a group for action, rather than a discussion club, said Xi Jinping.

Maybe easier said than done, because there is no lack of stumbling blocks between the world’s largest economies. China, for example, annoyed after Australia blocked a Chinese bid on a large grid. Meanwhile, European Commission President Jean-Claude Juncker criticized China for over-capacity in the industry of the country, which he says has cost the European steel industry too many job opportunities.

G20 is also the relatively newly elected British Prime Minister Theresa May’s debut in world politics, and the first major summit of world leaders since the British voted to leave the EU.

May flying start by meeting with US President Barack Obama. The US president reiterated in a joint press conference that he believes that brexit-decision is a mistake and that the US can not give priority to establish separate trade agreement with the United Kingdom, as it has been busy with the broad trade agreements TPP with Asia and TTIP in Europe.

Even before the referendum in June, Obama said that the British end up “in the back of the queue” for trade agreements if they leave the EU.

May has it on his page not quite easy; She must now try to energize the outside world before brexit, that after having campaigned for the other side to the Referendum.

– There will be difficult times ahead, she confessed to British reporters on the trip to China.

Although the United States can not really go may to meet the important trade, she gets support on that front by another former British colony.

– They must have free trade agreements in place and we are enthusiastic and want to help, says Australian Prime Minister Malcolm Turnbull to media outlets in Hangzhou.

And that may be needed. An exit process from the EU on this level has never before been made or even outlined, and during the summer there have been numerous reports that the newly established brexit authorities in London have been difficult to attract people with the right skills.