Trump to bring China hardliner Navarro to Xi meeting

01 December, 2018, 14:45 | Author: Corey Lynch
  • Members of social groups gather to protest against the Group 20 summit in Buenos Aires

The G20 accounts for two-thirds of the world population and is widely credited with avoiding a major global calamity after the 2008 financial crisis. With nationalist sentiments rising in multiple countries, the G20 is being forced to questions how to deal with trade tensions that have caused disturbances in the global market. If we can make a deal that'd be good.

"We're in very good shape", Kudlow said.

"I think the most likely scenario is that [Chinese President] Xi Jinping doesn't offer big enough concessions to Trump, and so nothing much comes of the G20 meeting", said Julian Evans-Pritchard from Capital Economics.

Argentine President Mauricio Macri speaks to President Donald Trump as he holds his translation device before their meeting ahead of the 2018 G20 Leaders' Summit in Buenos Aires, on November 30.

(AP Photo/Natacha Pisarenko) Trudeau arrives for the opening of the G20 summit at the Costa Salguero Center in Buenos Aires.

A Chinese foreign ministry official in Buenos Aires said there were signs of increasing consensus ahead of the discussions, although differences remained, Reuters reported.

Joining other forecasters, economists at the Organization for Economic Co-operation and Development last week downgraded their outlook for global economic growth next year to 3.5 percent from a previous 3.7 percent.

Two days after GM's announcement, the U.S. Trade Representative Robert Lighthizer released a statement saying he would "examine all available tools to equalize the tariffs applied to automobiles" between the U.S. and China at the president's direction.

Yesterday Mr Trump cancelled a planned sit down with Mr Putin, citing Russia's recent seizure of Ukrainian ships and sailors.

The dinner scheduled for Saturday evening has been cast as a key encounter that could help the two leaders ease the trade tensions, or it could end in stalemate.

"Capitalism and the G20 want to exploit the natural resources and force us to work from 12 to 14 hours a day", said Osmar, a Bolivian protester who lives in Argentina.

Macri said the matter of the killing would be "on the table" during bilateral and possibly broader meetings. The Kremlin said it was willing to be "patient" in arranging a meeting with Trump.

"Whether they come to an agreement tomorrow, really only they can discern that", Mr Morrison told reporters after he met Mr Trump.

Russian President Vladimir Putin and Saudi Crown Prince Mohammad Bin Salman high-fived each other at the beginning of the G20 forum.

Earlier, Putin grinned broadly and welcomed Saudi Crown Prince Mohammed bin Salman like a long-lost friend with an enthusiastic hand-shake after the group photo, where Trump looked on sombrely and Xi stood impassively.

The de facto Saudi leader denies having prior knowledge of Khashoggi's killing at the Saudi consulate in Istanbul in October. The official said it was meant to send a message to China of U.S. resolve on trade.

Host country Argentina was caught between the two powers on Friday when the White House claimed that Buenos Aires agrees with Washington that China's trade policies are "predatory".

He said Trump "gets along" with Putin, as he does with the leaders of a number of the G20 countries.

"I believe in our capacity to make the spirit of dialogue and cooperation triumph", Macron said at a joint news conference with Macri, warning that if nations "close down", the alternative could be trade wars or armed conflict.

Macron and British Prime Minister Theresa May both raised the murder of Khashoggi during meetings with the 33-year-old prince.

Oil markets were awaiting a bilateral meeting between Putin and Prince Mohammed on Saturday afternoon for any sign that Russian Federation will participate in a production cut by the OPEC oil cartel next month.


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