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Global trade tensions threaten an expected pick-up in economic growth this year and in 2020, a draft communique by the world’s financial leaders showed on Saturday, but the policymakers were divided on whether the need to resolve them was “pressing”.
Finance leaders of the Group of 20 major economies will steer clear of promises to avoid protectionism in a communique on Sunday amid escalating U.S.-China trade tensions, officials say, casting doubt on their ability to take a united front in averting a global recession.
Financial leaders of the world’s top economies are likely steer clear of promises to avoid protectionism in their communique on Sunday, amid an escalating trade conflict between the United States and China, officials said on Saturday.
Bank of Japan Governor Haruhiko Kuroda on Saturday maintained his view the global economy will recover in the latter half of this year, but warned that uncertainties remain as fallout from the Sino-U.S. trade war deepens.