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G20 Leaders Told ‘Avoid Empty Talk’ By China’s Xi Jinping


China’s President Xi Jinping has urged leaders of the world’s 20 largest economies to avoid”empty talk” as they look to quicken economic growth.

World leaders are at the annual economic summit, which is being hosted in China for the first time.

President Xi said the global economy was recovering but faced multiple challenges in finance and trade.

Also up for discussion are the global steel crisis, the UK’s Brexit talks and tax of multinationals like Apple.

President Xi said:

“Against risks and challenges facing the world economy, the international community has high expectations of the G20 in the Hangzhou summit.”

Ahead of the meeting, the International Monetary Fund (IMF) warned it was likely to downgrade its forecast for global economic growth again this year.
The IMF has already reduced its global outlook after the Brexit vote, cutting forecasts for world GDP growth to 3.1% for 2016 and 3.4% for 2017.

Mrs May will be explaining at the summit what the British decision to leave the EU might entail.

Japan’s government has issued a stark warning at the summit about the possible impact of Brexit on the country’s firms operating in the UK.

Source: BBC

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