Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

G20 Summit: What you need to know now

World Nov 16, 2022 05:27AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. U.S. President Joe Biden meets with Chinese President Xi Jinping on the sidelines of the G20 leaders' summit in Bali, Indonesia, November 14, 2022. REUTERS/Kevin Lamarque

NUSA DUA, Indonesia (Reuters) - Leaders of the Group of 20 (G20) nations deplored Russia's aggression in Ukraine "in the strongest terms" and demanded its unconditional withdrawal in a declaration adopted at the end of a two-day summit.

UKRAINE AND RUSSIA

* The war in Ukraine was the most debated article of the leaders' declaration, the president of host Indonesia said, while urging all sides not to escalate tension.

* French President Emmanuel Macron said G20 leaders agreed to push Russia towards de-escalation in the Ukraine conflict and expressed hope China could play a bigger mediation role in the coming months in that respect.

* U.S. Treasury Secretary Janet Yellen called for international support for Ukraine and said she wanted to acknowledge a wave of Russian missile attacks on the country.

* On Tuesday, Ukrainian President Volodymyr Zelenskiy called on earlier on G20 leaders to adopt a 10-point peace formula.

* Russian Foreign Minister Sergei Lavrov, who headed the Russian delegation to the summit in the absence of President Vladimir Putin, condemned "politicisation" of the meeting.

MONETARY POLICY

* Leaders of the world's biggest economies agreed to pace their interest rate rises carefully to avoid spillovers and warned of "increased volatility" in currency moves.

CLIMATE CHANGE

* G20 leaders agreed to pursue efforts to limit the global temperature increase to 1.5C - confirming the stand by the temperature goal from the 2015 Paris Agreement on climate change. That could boost negotiations at the U.N. COP27 climate summit in Egypt, where some negotiators feared the G20 would fail to back the 1.5C goal.

* Their declaration also said G20 countries would accelerate efforts towards the phasedown of unabated coal power. Negotiators at the COP27 summit in Egypt are wrangling over whether to expand this to phase down all fossil fuels.

* Biden and Chinese leader Xi Jinping agreed on Monday to resume cooperation on climate change.

* A coalition of countries including the United States and Japan announced on Tuesday they would mobilise $20 billion in public and private finance to help Indonesia shut coal power plants and bring forward the sector's peak emissions date by seven years to 2030.

BILATERAL MEETINGS

* Biden said Britain was America's closest ally and closest friend, during his first meeting with Rishi Sunak since he became prime minister. Sunak later said he was confident Britain and the United States could deepen their economic relationship but that he had not spoken specifically about a trade deal with Biden.

* U.S. Treasury Secretary Janet Yellen met for two hours with China's central bank governor, Yi Gang, a U.S. treasury official said, adding that their talks had a "frank, constructive, and positive tone".

* India Prime Minister Narendra Modi and his British counterpart, Sunak, discussed ways to boost trade, Modi said.

* Canadian Prime Minister Justin Trudeau raised "serious concerns" over suspected domestic interference by China in his first talks with President Xi on Tuesday in more than three years, a Canadian government source said.

* Modi discussed global and regional developments in a meeting with Biden and also exchanged courtesies with Xi at the end of a dinner in the first such meeting since deadly border clashes in 2020.

* South Korean President Yoon Suk-yeol called for China to play a bigger role in reining in North Korea's nuclear and missile provocations, his office said, after talks with Xi.

* Australian Prime Minister Anthony Albanese and Xi signalled they would seek to move past years of disagreements after the first formal meeting between leaders of their countries since 2016. The meeting was a step to normalising ties but would not bring an Australian defence policy shift, diplomats said.

G20 Summit: What you need to know now
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email