Notorious commercial language diluted

Bloomberg
G20 James Alexander Michie

https://www.bloomberg.com/news/articles/2018-12-01/g-20-statement-omits-mention-of-protectionism-cites-reform-need

The leaders of the G-20 take Trump in diluted commercial language. Those leaders of the world’s largest economies agreed on something. And is that the global system of rules that sustained trade for decades has flaws, in a statement after the summit on Saturday the White House claimed as a victory for the protectionist agenda of Donald Trump.

It should be noted that the Group of 20 communiqué was the culmination of days of talks throughout the day. In fact, it has been said that just having a statement turns out to be a good result. Topics such as trade, migration, and climate were discussed.

Meanwhile, the leaders recognized the benefits of multilateral trade. In fact, they said that the system “is not meeting its objectives and there is room for improvement.” They also agreed to commit to reforming the WTO, the world’s leading trade regulatory body.

Added to this, the document has been praised. The one who praised him has been a high official of the White House. The addition of the wording to explain Trump’s decision to exit the Paris climate agreement was also well received by the United States, the official said. Being that according to the statement the signatories of the agreement reaffirmed it as irreversible.

Opinions that came to light

The important and distinguished personalities have expressed their points of view. Some similar while others not so much. Among some, we have Thomas Bernes, who is a distinguished member of Canada’s Innovation Center for International Governance.

“This is the weakest wording about the trade we’ve had”, Bernes said. He added, “The 19 decided to bury their differences and issue a weak statement, which raises questions about their ability to show strong leadership”.

On the other hand, host Mauricio Macri of Argentina said that the reform of the WTO was necessary for “fair trade, fair play”. Being a language that Trump uses often.

Despite this, not everyone saw the agreement as a victory for Washington. In fact, the Deputy Minister of Finance of Brazil, Marcello Estevao, said: “From my point of view, it is a victory for multilateralism”.

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Source: Raymond Colitt, Josh Wingrove, and Jennifer Epstein | Bloomberg

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