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G20 2LAST

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For Obama, this will be his last tour to Asia as he is For Obama, this will be his last tour to Asia as he isset to relinquish after two terms. But his meeting with Xi istaking place in the backdrop of July verdict of the SouthChina Sea and Washington’s stand that the judgement, thoughrejected by China, is legal and to be implemented. China’s claim over almost all of SCS is contested by thePhilippines, Vietnam, Malaysia, Brunei and Taiwan. They enjoy the backing of the US. Beijing is emphasising that Washington should peg downtensions over the SCS and is also trying to persuade the USnot to go ahead with its plans to deploy Terminal HighAltitude Area Defence (THAAD) in South Korea as it considersthem a security risk in view of their radars powerful abilityto monitor deep into China. The tensions between Japan and China over disputedislands in the East China’s Sea and Beijing’s ire over Tokyowading into the SCS besides their strategic competition aroundthe world remained a source of friction reflecting in Xi, Abemeetings. Xi will also be meeting new British Prime Minister Maybut again China is very upset about her government’s move tohalt the USD 24 billion Hinkley Point C nuclear power plantagreed to by her predecessor David Cameron. Reports from London said the May government explainedthe delay saying that it needed time to consider allcomponents of the deal. But speculation is rife that concernsover Chinese investments was at the heart of the reassessment. For its part, the Chinese official media has beensaying that the focus of the G20 summit will serve as a vitalplatform for reversing the trend of trade protectionism andgiving new impetus to global trade growth. The G20 summit comes at a time when the growth of globaltrade is lower than that of the global gross domestic product(GDP), which is "indeed rare", Zhang Yuyan, director of theInstitute of World Economics and Politics of the ChineseAcademy of Social Sciences told state-run Xinhua news agency. Protectionism, as it often does at times of sluggisheconomic growth, is on the rise. The World Trade Organisation (WTO) in June this yearurged the G20 economies to dismantle anti-trade measures,1,583 of which have been erected at an all-time-high pace,while just 387 have been removed since 2008, a Xinhuacommentary said. Since taking the rotating G20 presidency at theend of last year, China has done "considerable amount ofwork," Zhang said, citing the initiation of the G20 trade andinvestment working group and the institutionalisation of theG20 trade ministers meeting. These efforts are believed to be a good beginning forthe upcoming summit, he said. The G-20 includes Argentina, Australia, Brazil, Canada,China, France, Germany, India, Indonesia, Italy, Japan,Mexico, Russia, Saudi Arabia, South Africa, South Korea,Turkey, the UK, the US and the European Union. PTI KJV PMS AKJPMS

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