This year, on November 30 to December 1, the 2018 G20 Leaders’ Summit will take place in Buenos Aires, Argentina. As the agenda has been set and discussions are scheduled to begin, there is one clash which is being expected to have the eyes of the world centered on it: the meeting of China’s president Xi JinPing and US President Trump.
By Jorge Reano
The G20 is a group of 19 nations and the EU, which represent approximately 85% of the total Global Economy. The first G20 Leaders’ summit took place in Washington DC in 2008, making this the 10th Anniversary of the Summits. Each annual summit meeting intends to address the most important issues and crises of the world.
This year, on November 30 to December 1, the 2018 G20 Leaders’ Summit will take place in Buenos Aires, Argentina, and the agenda will be centered on three main issues: the future of work, infrastructure for development, and a sustainable food future.
As the agenda has been set and discussions are scheduled to begin, there is one clash which is being expected to have the eyes of the world centered on it: the meeting of China’s president Xi JinPing and US President Trump, who have exploded the discourse regarding Trade, Tariffs and Protectionism, in their own styles, and from their own corners.
On November 30, however, the discussions and deliberations will be face to face, considering that Trump avoided attending the APEC Conference, and that the attending representatives -from both sides- failed to reach a consensus on a declaration, at the end of that conference.
The world will have to prepare itself for a strong shake, when tough talks take place between the President of China Xi Jinping, and US President Donald Trump as they meet at the Argentina G20 summit.
Trade negotiations between Beijing and Washington will become center-stage as will be the way in which both presidents will dare to present their alternatives and proposals.
Xi JinPing is trying to position China as the world’s champion of free trade, in stark contrast to Trump’s “America First” protectionism. However, the wrangling of both superpowers is starting to cause instability in the International Trade Sphere. Big swings and tariffs can impede the flow of free trade around the world; which, in turn, can cause a strong slowing down of trade and economic stagnation for those countries, which depend on trade, to give their economies a strong push forward.
Although Germany, France and the European Union (EU) share some of Washington’s concerns about China’s trade practices, they do not want to be caught in the middle and certainly do not want the talks to devolve into an open Tariff War, which could literally stagnate International Trade.
We at Export Portal will stay on top of any developments, which may occur at the G20 Summit in Buenos Aires, Argentina, and will thus, keep you informed.