At G20 Meet, Defending Free Trade Will Need More Than Talk

Wedged in between the Brexit vote and the U.S. presidential election, leaders of the world’s major economies meet this weekend in China needing to mount a realistic defence of the free trade and globalisation they have long championed.

At stake is the post-World War Two concord on globalisation that proponents say has helped lift so much of the world out of poverty. China, the host of the Group of 20 meeting, has itself been one of the biggest winners from free trade, becoming the world’s leading exporter.

But Britain’s shock vote in June to leave the EU and the rise of protectionist Donald Trump in the United States has shaken that accord ahead of the G20 summit in Hangzhou that starts on Sunday.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.