G20 concludes with agreement for co-ordinated policies to tackle weak global economy

G20 항저우 컨센서스 "脫저성장 위해 보호무역 반대•철강감산 The 2016 G20 meeting has come to a close with leaders from the world leaders agreeing to take co-ordinated action to boost the slowing global economy. But a number of sideline summits that have taken the headlines this year, such as a bilateral meeting between President Obama and President Putin on Monday. Kwon Jang-ho brings us the details. The two-day meeting of leaders from 20 of the world's leading economies closed on Monday, with the adoption of a joint communique, dubbed the 'Hangzhou Consensus'. The agreement stressed the strengthening of policy co-ordination between the nations to improve the flagging world economy. Chinese President Xi Jinping warned world leaders on Sunday against rising protectionist tendencies saying it was putting the world economy at risk. South Korea's President Park Geun-hye reiterated the importance of increasing free-trade in Monday's meetings, stressing instances of protectionism in the past had damaged economies. The Hangzhou Consensus also looks to promote new industries and the digital economy, with nations agreeing to draw up action plans to grow those sectors. But on the sidelines of the summit, this year's G20 forum was one where political divisions and struggles were strongly evident. A high-profile meeting between U.S. President Barack Obama and Russian President Vladimir Putin ended up with no agreement on ways to de-escalate the war in Syria, with more discussions said to come in the near future. Obama also met with Xi before the start of the G20 Summit, both ratifying the landmark climate-change agreement...but the good will was seemingly soured by a minor diplomatic incident at Hangzhou airport where Obama was the only leader without a red-carpet reception due to a mechanical failure of the staircase. Commentators said it was a deliberate snub by China, although Obama was quick to brush off the incident. Brexit was also a tense subject, with several nations, including the U.S. and Japan, warning Britain it could take time to negotiate trade deals, and face withdrawing overseas businesses. The first G20 meeting in China might have successfully closed, but global issues and concerns remain. Kwon Jang-ho, Arirang News. Visit ‘Arirang News’ Official Pages Facebook(NEWS): http://www.facebook.com/newsarirang Homepage: http://www.arirang.com Facebook: http://www.facebook.com/arirangtv Twitter: http://twitter.com/arirangworld Instagram: http://instagram.com/arirangworld