G20 lead­ers agree on ‘re­cip­ro­cal and mu­tu­ally ad­van­ta­geous trade’

China Daily (Hong Kong) - - WORLD - By CE­CILY LIU in Ham­burg, Ger­many

China’s lead­er­ship in cham­pi­oning global free trade has helped global lead­ers reach wider con­sen­sus on build­ing a win-win trade frame­work and fight­ing pro­tec­tion­ism, which was ex­pressed in the out­come doc­u­ment of G20 sum­mit in Ham­burg on Satur­day, said in­ter­na­tional ex­perts.

They also said that the out­comes of the sum­mit clearly high­lighted the con­tin­u­a­tion from last year’s Hangzhou com­mu­nique, es­pe­cially on the is­sues of eco­nomic growth, fi­nan­cial reg­u­la­tion, strength­en­ing fi­nan­cial ar­chi­tec­ture, and pro­mot­ing trade and in­vest­ment.

Amid ris­ing pro­tec­tion­ism and an in­ward-look­ing ten­dency in some coun­tries, the lead­ers agreed on build­ing “re­cip­ro­cal and mu­tu­ally ad­van­ta­geous trade and in­vest­ment frame­works” in their dec­la­ra­tion, re­leased af­ter two days of tough talks among the G20 lead­ers in­clud­ing Pres­i­dent Xi Jin­ping, US Pres­i­dent Don­ald Trump and Ger­man Chan­cel­lor An­gela Merkel, who chaired the sum­mit.

“Pres­i­dent Xi has many sup­port­ers for in­ter­na­tional trade and open econ­omy, which held Trump from the temp­ta­tion of pro­tec­tion­ist ac­tions,” said John Kir­ton, a pro­fes­sor at the Univer­sity of Toronto who is also co-di­rec­tor of the G20 Re­search Group.

Shi Shi­wei, di­rec­tor of the re­search cen­ter for Eu­rope at the Bei­jing-based Univer­sity of In­ter­na­tional Busi­ness and Eco­nom­ics, added: “The ben­e­fits of free trade, in­clud­ing em­ploy­ment, con­nec­tiv­ity and growth are also con­sis­tent with the Belt and Road ini­tia­tive.”

Dis­cus­sions on pro­mot­ing in­ter­na­tional trade and in­vest­ment and the build­ing of a

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