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G-20 Finance, Central Bank Chiefs Vow to "Resist Protectionism"

G-20 Finance, Central Bank Chiefs Vow to "Resist Protectionism"

   Washington, Oct. 24 (Jiji Press)--Finance ministers and central bank chiefs from the Group of 20 advanced and emerging economies ended their two-day talks in Washington on Thursday, adopting a joint statement vowing to "resist protectionism."
   "While the global economy remains resilient, some downside risks have increased amid elevated uncertainty," the G-20 finance officials said in their communique.
   Noting that such risks include wars, escalating conflicts, economic fragmentation and excessive spikes in commodity prices, the finance officials added that they will "commit to resist protectionism and encourage concerted efforts to support a rules-based, nondiscriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral trading system."
   With the Nov. 5 presidential election in the United States drawing closer, concerns are rising over a possible escalation of trade frictions, given that former President Donald Trump, one of the candidates in the presidential race, has pledged to apply a uniform tariff on all imports to the United States.
   Elsewhere in the communique, the G-20 officials said, "We observe good prospects of a soft landing of the global economy, although multiple challenges remain."

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AFP-JIJI PRESS NEWS JOURNAL


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