For sake of G20 unity, Japan aims to keep conflicts backstage

Jun 28, 2019, 01:17
For sake of G20 unity, Japan aims to keep conflicts backstage

With hotspots North Korea and Venezuela and a slowing world economy also high on the agenda, the two-day gathering of leaders from the world's group of 20 leading nations in Osaka, Japan, could be one of the most pivotal in years, analysts say.

The United States will not accept any tariff conditions and Washington is not willing to come to the meeting with concessions on trade, the official said.

The sides are at an impasse after 11 rounds of talks that have failed to overcome US concerns over China's acquisition of American technology and its massive trade surplus. While China is North Korea's biggest trading partner, both Tokyo and Beijing want it to abandon its nuclear programme.

"This will be a hard G20, there are global challenges to be met", Donald Tusk, president of the European Union Council, said during a meeting with Japanese Prime Minister Shinzo Abe.

Moreover, the US President claimed that China is bearing the full brunt of US tariffs this year.

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Any talks between China and the U.S. have to be based on "mutual respect, equality and mutual benefit and comply with WTO rules", Wang said.

The president began his battery of meetings with world leaders with a dinner with Australian Prime Minister Scott Morrison Thursday evening.

Ahead of the meeting, Trump has threatened to implement more tariffs on another round of Chinese goods, worth $300bn, including on everyday products used by United States consumers like electronics.

The meeting, more than a month after trade talks between the US and China foundered, has raised hopes the two sides might manage to bridge some differences and cool tensions that led them to raise tariffs on billions of dollars of each other's products.

And the US -based research arm of Huawei, Futurewei Technologies Inc, has moved to separate its operations from its corporate parent since the U.S government in May put Huawei on a trade blacklist, according to two people familiar with the matter.

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During the meeting, Abe thanked the European Union leaders for the planned proposal, saying reconstruction of the disaster-hit Tohoku region is "a top priority agenda for his administration", according to Nishimura.

Abe referred to the Prime Minister Modi's initiatives on the earlier G20 meetings on the issue of fugitive economic offenders and he said the G20 should deal with this problem as part of its anti-corruption measures.

The G20 comprises Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the US.

Macron is in the Japanese capital for bilateral talks ahead of the G20 summit, which is set to be dominated by disputes over trade as well as tensions with Iran.

Here are five things to watch out for during the leaders' pow-wow, and the series of bilateral meetings taking place on the sidelines of the summit. "We should see this as a momentary pause but markets shouldn't expect there to be a deal", Kennedy said.

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"If the US side doesn't change its thinking, doesn't change its methods, then all that will happen on the China-US trade issue is that an "exchange of views and maintenance of communication" will persist, and there won't be more substantive progress", the author wrote.

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