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G20 Financial Leaders Concerned About Trade Tensions’ Impact on Economic Growth

According to finance ministers and central bank governors of the G20, global trade tensions are set to adversely impact economic growth in 2019 and 2020. Intensified trade and geopolitical risks could hamper growth, which is otherwise expected to experience a moderate improvement during this period.

This group of financial leaders met in Japan over the weekend, ahead of the G20 summit, where these statements were issued as part of a draft communique. However, the policymakers remain unsure of the extent of impact due to these risks.

According to a Japanese financial ministry official, rising trade tensions posed a serious downside risk for global economy. In 2018, this group had agreed that while the WTO has helped support economic growth, there still remain areas that need to be worked on.

In December 2018, G20 leaders had come to an agreement about reviewing reforms in WTO during their summit scheduled to take place later this month.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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