Ankara: As G20 summit opens in Turkey, the international community looks up to the leaders to come up with strong agreements to fulfil the mandate of promoting strong, balanced and sustainable growth across the globe.
Seven years after the global financial meltdown, there is still little sign that the world economy is on the right track back to strong recovery, Xinhua reported.
Growth is not picking up, trade is weak, and investment is slowing down. Some experts cautioned that a recession is imminent.
Earlier, the Paris-based Organisation for Economic Co-operation and Development (OECD) in its twice-yearly outlook trimmed the forecast for global economic growth to 2.9 percent from three percent earlier this year, and to 3.3 percent from 3.6 percent in 2016.
At last year’s summit in Australia’s Brisbane, the G20 set itself an ambitious goal to lift their gross domestic product by at least an additional two percent by 2018, agreeing on measures to lift investment, trade and competition, and employment.
Taking over the baton, Turkey, the host of the summit now, has highlighted the “three Is”, inclusiveness, implementation and investment, on G20’s agenda to revitalise a sluggish global economy.
The global economic governance also needs the determination and political will from the G20 countries to carry out key and necessary reforms, such as the 2010 International Monetary Fund quota reforms, and to finalise the long-stalled Doha round of trade talks as soon as possible.
As the two-day summit convenes, the G20 leaders are expected to discuss these key economic topics of inclusive growth, employment, and investment, as well as financial regulation.
On the eve of the summit, a wave of terrorist attacks rocked Paris, claiming 129 lives and leaving over 350 people injured. The Islamic State (IS) militant group has claimed responsibility for the attacks.
The G20 is expected to put out a statement on fighting terrorism later Sunday.
The first tangible signs of movement may be emerging in the impasse that has shut down the government for weeks: President Donald Trump is promising a “major announcement” about the closure and the U.S.-Mexico border and Democrats are pledging more money for border security.
It was unclear whether the developments, following days of clashes between Trump and House Speaker Nancy Pelosi, D-Calif., might represent serious steps toward resolving the partisan fight or instead may simply be political posturing as the partial shutdown reached a record 29th day. Hundreds of thousands of federal workers have gone without paychecks, enduring financial hardship. Many public services are unavailable to Americans during the closure.
The White House has declined to provide details about what the president would announce midafternoon Saturday. Trump was not expected to sign a national emergency declaration he has said was an option to circumvent Congress, according to two people familiar with the planning.
Instead, he was expected to propose the outlines of a deal that the administration believes could have the potential to pave the way for a shutdown end, according to one of the people. They were not authorized to publicly discuss details about the impending announcement and spoke on condition of anonymity.
Democrats are now proposing hundreds of millions of dollars for new immigration judges and improvements to ports of entry from Mexico but nothing for the wall, a House aide said, as the party begins fleshing out its vision of improving border security.
Trump’s refusal to sign spending bills that lack $5.7 billion he wants to start constructing that wall, which Democrats oppose, has prompted the shutdown.
Whatever the White House proposed would be the first major overture by the president since Jan. 8, when he gave an Oval Office address trying to make the public case for the border wall. Democrats have said they will not negotiate until the government reopens, raising questions about how Trump might move the ball forward.
Democrats were proposing $563 million to hire 75 more immigration judges, who currently face large backlogs processing cases, and $524 million to improve ports of entry in Calexico, California, and San Luis, Arizona, the Democratic House aide said. The money is to be added to spending bills, largely negotiated between the House and Senate, that the House plans to vote on next week.
In addition, Democrats were working toward adding money for more border security personnel and for sensors and other technology to a separate bill financing the Department of Homeland Security, but no funds for a wall or other physical barriers, the aide said.
It was possible Democrats would introduce that measure next week as the cornerstone of their border security alternative to Trump’s wall, the aide said. Earlier Friday, Rep. Lucille Roybal-Allard, D-Calif., who leads the House Appropriations Committee’s homeland security subcommittee, said in an interview that some Democrats were asking leaders, “What is our plan?”
The aide spoke on condition of anonymity because he wasn’t authorized to discuss the details publicly.
In a video posted on his Twitter feed late Friday, Trump said both sides should “take the politics out of it” and “get to work” to “make a deal.” But he also repeated his warnings, saying: “We have to secure our southern border. If we don’t do that, we’re a very, very sad and foolish lot.”
Few would argue that a humanitarian crisis is unfolding at the U.S.-Mexico border, as the demand for entry by migrants and the Trump administration’s hard-line response overwhelm border resources. But critics say Trump has dramatically exaggerated the security risks and they argue that a wall would do little to solve existing problems.
Trump’s Friday evening tweeted announcement came after Pelosi on Friday canceled her plans to travel by commercial plane to visit U.S. troops in Afghanistan, saying Trump had caused a security risk by talking about the trip. The White House said there was no such leak.
It was the latest turn in the high-stakes brinkmanship between Trump and Pelosi that has played out against the stalled negotiations.
Pelosi had suggested Trump postpone the annual State of the Union address, a Washington tradition and a platform for his border wall fight with Democrats. It is tentatively scheduled for Jan. 29.
Trump never responded directly. Instead, he abruptly canceled Pelosi’s military flight on Thursday, hours before she and a congressional delegation were to depart for Afghanistan on the previously undisclosed visit to U.S. troops. (VOA)