International finance11.24

The 15th G20 Summit reached consensus on five major economic and trade outcomes
A few days ago, the 15th summit of the leaders of the Group of Twenty (G20) was held in the form of video. All parties reached consensus on a series of major issues. Among them, five aspects of practical results were reached in the economic and trade field. One of the economic and trade achievements is the approval of the “Group of Twenty Countries’ Response to New Coronary Pneumonia and Support for Global Trade and Investment Collective Action.” Second, reach an important consensus on safeguarding the multilateral trading system and advance the necessary reforms of the WTO. In terms of its commitment to keep the market open, the G20 proposes to ensure fair competition and create a free, fair, inclusive, non-discriminatory, transparent, predictable and stable trade and investment environment. In improving the sustainability and resilience of global supply chains, we pledge to help developing countries and LDCs better integrate into the trading system. The G20 has also formulated policy guidelines to encourage small, medium and micro enterprises to actively participate in international trade and investment to promote inclusive economic growth.

IMF official: China’s continued deepening of reform and opening up will help build a new development pattern
In a written interview with a reporter from Xinhua News Agency, Helge Berger, Assistant Director of the International Monetary Fund’s Asia-Pacific Department and Director of China Affairs, said that China’s economy is recovering rapidly from the new crown epidemic. China has launched a series of deepening reforms and opening up. The measures will help promote China’s domestic economic growth and help build a new development pattern in which domestic and international cycles are the mainstay and the domestic and international dual cycles promote each other.

Biden announces “team roster”
US “President-elect” Biden announced a series of cabinet members on the 23rd. Among them, Anthony Brinken was nominated as Secretary of State, Majorcas as Secretary of Homeland Security, Avril Haynes as Director of Intelligence, and Jack Sullivan Served as National Security Advisor to the White House, and Thomas Greenfield served as the Permanent Representative of the United States to the United Nations. According to CNBC reports, Biden will nominate former Federal Reserve Chairman Janet Yellen (Janet Yellen) as Secretary of the Treasury. If finally confirmed, Yellen will become the first female Treasury secretary in American history.

Germany’s November comprehensive PMI fell to a 5-month low
According to the monthly survey results released by the market research institution Esson Huamai on the 23rd, Germany’s November comprehensive purchasing managers index (PMI) fell from the final value of 55.0 last month to 52.0, the lowest point in five months. The survey showed that due to Germany’s lockdown measures in response to the new crown epidemic, the German service industry PMI in November fell to 46.2 from 49.5 last month, and the manufacturing PMI fell to 57.9 from 58.2 last month.

Singapore raises its economic growth forecast for this year
The Ministry of Trade and Industry of Singapore issued a report on the 23rd that, taking into account the domestic and foreign environment and the country’s economic contraction of 6.5% in the first three quarters, the expected growth rate of Singapore’s GDP in 2020 will be from -7% to -5%. “Adjusted to “-6.5% to -6%”. Singapore’s Ministry of Trade and Industry predicts that Singapore’s economy will resume growth in 2021, with an expected growth rate of 4% to 6%.

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Reprint indicated source:Spark Global Limited information

2 Responses

  1. Eleanora says:

    Europe’s major stock markets closed higher on continued confidence in the underlying strength of the region’s economy, only to see a pullback over the weekend.

  2. Felicien says:

    G20 Summit reached a consensus on five major economic and trade outcome

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