G20 leaders agree on ‘reciprocal and mutually advantageous trade’
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