Caixin
Dec 01, 2018 11:13 AM

World Trade System Under Pressure as G-20 Opens

China’s Foreign Minister Wang Yi held a joint press conference Friday morning with French Minister for Europe, Integration and Foreign Affairs Jean-Yves Le Drian and United Nations Secretary-General António Guterres in Buenos Aires, Argentina, pledging joint commitments on climate change. Photo: Han Wei/Caixin
China’s Foreign Minister Wang Yi held a joint press conference Friday morning with French Minister for Europe, Integration and Foreign Affairs Jean-Yves Le Drian and United Nations Secretary-General António Guterres in Buenos Aires, Argentina, pledging joint commitments on climate change. Photo: Han Wei/Caixin

(Buenos Aires) — A tense summit of the Group of 20 opened Friday in Buenos Aires with world leaders facing the challenge of forging consensus on increasingly divisive front-burner issues including global trade and climate change.

The G-20, consisting of 20 world-leading nations, was created to coordinate joint responses to the global financial crisis 10 years ago. This year, the annual conference of member countries’ heads of states takes place in a more divided world, overshadowed by the escalating trade war between China and the U.S., the world’s two largest economies, and mounting pressures on the multilateral trading system.

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