Finance heads from the world’s leading economies will confront fresh fears about protectionism when they meet in China this weekend, with Brexit fallout and dwindling policy options to boost global growth expected to dominate talks.
The Group of 20 finance ministers and central bankers meeting will put the spotlight on Britain’s new Chancellor of the Exchequer, Philip Hammond, who makes his international debut at the gathering and will need to answer questions about how London will manage its exit from Europe.
Also overhanging the G20 meeting in the southwestern city of Chengdu will be Donald Trump’s U.S. Presidential campaign in which protectionist themes are expected to be central, after his official nomination as the 2016 Republican candidate this week.
“(On Brexit), the focus will be on what message G20 can deliver to ease concerns,” said an Asian financial official involved in G20-related issues. “We still need to remain vigilant.”
The International Monetary Fund this week cut its forecast for global growth, specifically on Britain’s vote to leave the European Union.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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