G20 Financial Leaders See Downside Risks to Global Economy
WASHINGTON (Xinhua) - Financial leaders from the Group of 20 (G20) have expressed concerns that trade disputes among major economies could pose downside risks to the global economy, Argentine Treasury Minister Nicolas Dujovne has said.
"Concerns on trade disputes occupied some part of the discussions that we had yesterday, and, of course, it is still one of the three main concerns in terms of the downside risks for the economy," Dujovne told reporters in Washington after wrapping up a two-day meeting of G20 finance ministers and central bank governors under Argentina's presidency.
"We discussed trade and the potential impacts on the global economy and the potential disruption that modifications on the trade scheme can actually pose to the global economy," he said.
While some differences over trade appeared in the last few months, Dujovne said G20 members "still have a very big consensus on the benefits of trade for growth."
"The idea that the gains from trade have to be evenly shared is a concern that was placed both by advanced economies and emerging economies," echoed Argentine central bank governor Federico Sturzenegger, noting "there was general appeal for multilateralism."
However, the G20 meeting didn't discuss specific trade measures, which are appropriate for the World Trade Organization (WTO) to deal with, according to Dujovne.
Financial leaders from the Group of 20 (G20)
"Concerns on trade disputes occupied some part of the discussions that we had yesterday, and, of course, it is still one of the three main concerns in terms of the downside risks for the economy," Dujovne told reporters in Washington after wrapping up a two-day meeting of G20 finance ministers and central bank governors under Argentina's presidency.
"We discussed trade and the potential impacts on the global economy and the potential disruption that modifications on the trade scheme can actually pose to the global economy," he said.
While some differences over trade appeared in the last few months, Dujovne said G20 members "still have a very big consensus on the benefits of trade for growth."
"The idea that the gains from trade have to be evenly shared is a concern that was placed both by advanced economies and emerging economies," echoed Argentine central bank governor Federico Sturzenegger, noting "there was general appeal for multilateralism."
However, the G20 meeting didn't discuss specific trade measures, which are appropriate for the World Trade Organization (WTO) to deal with, according to Dujovne.
Financial leaders from the Group of 20 (G20)