World economy at risk, avoid ‘empty talk’, says Xi at G20
HANGZHOU (CHINA): The global economy is being threatened by rising protectionism and risks from highly leveraged financial markets, Chinese PresidentXi Jinpingsaid on the first day of a summit of leaders fromG20+nations.
Theglobal economy+has arrived "at a crucial juncture", Xi said, in the face of sluggish demand, volatile financial markets and feeble trade and investment. Xi also urged G20 members to avoid "empty talk".
G20 is as empty as they can imagine. Every two years they gather and after the Photo-Op issue "Empty Rhetoric''. Tax Evasion, Black Money, Debt, Currency Valuation, Trade, Flow of Capital....Jus...Read MoreNaveed Khan
"We should turn the G20 group into an action team, instead of a talk shop," he said. But some of the G20 leaders have begun drawing battle lines in disputes over issues ranging from trade and investment to tax policy and industrial overcapacity.
At an event on Saturday ahead of the summit, IMF MDChristine Lagardeurged business chiefs to lobby governments to help keep trade flows up as she issued a warning about the outlook for growth into 2017. Her views were echoed byWTOdirector general Roberto Azevedo.