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World Leaders Meet as Global Economy Faces Multiple Threats

Автор:News

Ноя 15, 2022


The Chinese description of the meeting suggested that those policies, and others meant to redirect American supply chains away from China, “completely violate the principles of market economy and undermine the rules of international trade.”

The American description said Mr. Xi and Mr. Biden had agreed to empower senior leaders to negotiate on debt relief and several other issues, a possible sign of progress.

Still, American negotiators have sought to work around China and Russia on economic issues ahead of the gathering, leaning on help from Britain, Germany and India, among other nations, on efforts like the oil price cap. The approach jeopardizes the traditional consensus-based efforts of the Group of 20, which was meant to bring a wide range of countries together to solve global problems.

In previous gatherings of Group of 20 officials this year, the usual joint statement, or “communiqué,” could not be drafted. China has resisted strong language about debtors and debt, and there have been differing opinions among the countries about Russia’s war in Ukraine.

“In October, when there was discussion of the macro outlook, many, many countries said the single most important thing that we can do to improve the macro outlook is for Russia to end its invasion of Ukraine,” Janet L. Yellen, the Treasury secretary, told reporters in Bali, adding that there was broad support for that sentiment. “And, of course, Russia is a member of the G20, and there are other countries that are reticent about criticizing Russia, so that’s been a problem all year.”

Amid concern that slowing growth in China is dragging down the global economy, Ms. Yellen planned to ask her Chinese counterparts about its zero-tolerance approach to Covid, which has included strict lockdowns, and about the state of its property market, Treasury officials said.



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