G20 Ministers Call for Rolling Back of Anti-Trade Measures

The ministers are concerned about rising protectionism around the world and significantly slowed trade growth.

Boston Herald
G20 China 5783aed68ff6b

Trade ministers from the G20 nations called on their governments to roll back anti-trade measures that have become more pervasive than any time since 2009.

Following a two-day meeting in Shanghai, the ministers said in a joint statement that they're "concerned" about rising protectionism around the world and "significantly slowed" trade growth figures. They backed a set of nine core principles for global investment policymaking ahead of the September G20 summit in Hangzhou.

China's commerce minister, Gao Hucheng, speaking to the media on Sunday, also warned that the "global economy is faced with serious challenges, and is undergoing a very sluggish recovery and growth."

The comments underscored growing concerns about the global economy and the trend toward rising trade restrictions, which have deepened since Britons voted to leave the European Union, raising fears of a global recession. In his remarks, Gao did not mention Brexit, although Chinese leaders including the premier have recently expressed concern about the uncertainty that Britain's exit from the EU will bring to the world economy and markets.

To read the full story, please click here.