G20 leaders to talk about labour markets, digital economy, trade relations in this week’s meeting

Aurel Dragan 28/11/2018 | 08:50

G20 leaders will meet on Friday and Saturday in the capital of Argentina, Buenos Aires, for a summit of the largest economies in the world, accounting for 85 percent of global production and two-thirds of the world’s population.

While leaders will try to build consensus on key issues, talks will be shadowed by trade tensions between the United States and China. The Reuters Agency, cited by Agerpres, briefly outlines the main topics and events to be watched over the two days of the summit.

What are the key topics at the summit?

Leaders will discuss the global economy, the future of labor markets and gender equality. Other topics on the agenda will be macroeconomic policy, the digital economy, World Trade Organization reform, financial regulation, taxation and trade relations.

Most likely, the discussion will be dominated by the question of customs duties imposed by US President Donald Trump on imports from countries that are major economic partners, especially China.

Donald Trump and his Chinese counterpart, Xi Jinping, will meet for the first time since Washington imposed USD 250 billion on Chinese imports, and it replicated with its own measures.

Beijing hopes to persuade the US to abandon the increase in customs duties from 10% percent to 25 percent as of 1 January, 2019. But officials from both countries are skeptical about major progress leading to a resolution of the trade war.

Delegates at the Buenos Aires summit will also discuss climate change, another litigation topic after Donald Trump announced last year the withdrawal of the United States from the Paris accord.

What are the follow-up meetings?

The most closely watched summit will be Friday between Trump and Xi. Its outcome could determine whether the US-China trade dispute will disintegrate or, on the contrary, intensify.

A Trump-Putin meeting is also expected at Buenos Aires to discuss the Inter-Nuclear Force (INF) Treaty after the US president said in October that the US would withdraw from the deal because of its violation by Russia.

Also in the G20 margin, Turkish President Recep Tayyip Erdogan could meet Saudi Prince Mohammed bin Salman for the first time after the assassination of Saudi journalist Jamal Khashoggi at his Istanbul consulate, which provoked indignation at a global level.

The heir is also expected to meet with Donald Trump, who defended US relations with Saudi Arabia, although according to sources, the CIA believes that Mohammed bin Salman ordered the assassination of the journalist.

On Friday, US, Canada and Mexico are also expected to sign the revised version of NAFTA under the name of the United States – Mexico – Canada.

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