The G20 trade meeting in Shanghai concludes with a cautious view 10 July 2016
Further to my post yesterday and Eamonn's earlier the G20 trade ministers meeting has ended with them having approved a broad trade growth strategy aimed at reversing a slowing in global trade, and backed guiding principles for global investment policymaking.
Amid a "worrying" rise in protectionism the G20 have agreed to cut trade costs, increase policy coordination and enhance financing.
In joint statement they said:
"The global recovery continues, but it remains uneven and falls short of our ambition for strong, sustainable and balanced growth. Downside risks and vulnerabilities persist.
"We agree that we need to do more to achieve our common objectives for global growth, stability and prosperity."
G20 internal tensions continue however.
Say Reuters:
The joint statement reflected China's concerns that the country was being singled out for blame for a glut that has led to a collapse in global prices, noting instead that excess capacity in steel and other industries is "a global issue which requires collective responses", and that subsidies and government support could cause distortions.
Global FX rates were not mentioned in the joint statement, and a senior trade official involved in the talks said the issue had not been discussed.
Re Brexit South Africa's Minister for Trade and Industry said that UK and EU representatives in Shanghai were at pains to stress that they would come up with a "sensible and mature new arrangement".
Let's hope so.
More from Reuters here
