Economy, terrorism and refugee crisis on G20 agenda

The global economy, terrorism and the refugee crisis are on the agenda of talks at the G20 Summit underway in, Hangzhou, China. The 2-day meeting of the world’s most powerful leaders is taking place under draconian security measures. US President Barack Obama, who was snubbed by the Chinese during his arrival as he did not receive a red carpet reception, met with Chinese President Xi Jinping and the two men are expected to ratify the Paris climate change Treaty, while UK Prime Minister Theresa May will attend the meeting for the first time since the UK exited the EU. According to Bloomberg, her main goal is to reassure other leaders that Britain can be a leading economic power in the globe, despite the Brexit. Participants have voiced their concern about the negative effects of states implementing economic barriers to free trade. IMF Director Christine Lagarde called on the CEOs of global businesses to put pressure on governments to refrain from raising barriers against free trade and keep market routes open. The head of the OECD, Angel Gurria stressed that since the break out of the financial crisis 1,400 measures of protectionism had been passed by governments around the globe. The leaders of the economic bloc of the BRICS (Brazil, Russia, China and South Africa), also expressed their fears and the need for the WTO to strengthen its negotiating role in a common statement. French Trade Minister Matthias Fekl underlined that talks with the US on free trade had failed and should be suspended. Turkish PM Recep Erdogan is scheduled to meet with the US President and leaders of the EU on the refugee crisis. Meanwhile, European Council President Donald Tusk said in a joint press conference with European Commission President Jean Claude Juncker that Europe had reached its limits on the reception of refugees and called on the international community to provide aid. Recep Erdogan will meet with German Chancellor Angela Merkel, French President Francois Hollande and Italian PM Mateo Renzi on the sidelines of the Summit to discuss ways to deal with the refugee crisis. US President Barack Obama pointed out the pivotal role of Russia in the efforts to solve the Syrian crisis.

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