China to host G20 Summit in 2016

[TaiShang]

The G20 Summit concludes its two-day meeting the Brisbane, Australia. Members issued a communique on Sunday outlining recommendations on boosting the world economy.

Chinese President Xi Jinping called for concerted efforts to cope with the world's economy's potential risks. That includes efforts to reform the international financial system, strengthen global taxation cooperation, conduct anti-corruption cooperation, and focus on issues of development.

The President also called for the establishment of a partnership to better manage energy issues, and foster a sound, orderly, and free energy market. President Xi also announced that China will release its oil deposits periodically.

China will host the summit in 2016. President Xi said he is confident that China would contribute to the mechanism of G20.

China to host G20 Summit in 2016 - CCTV News - CCTV.com English

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Plus, an amazing infographics by the Sputniknews, comparing and contrasting G20 economies on multiple economic indicators.

I greatly enjoyed viewing it.

The G20 in Numbers / Sputnik international

 

[Galad]

efforts to reform the international financial system

These efforts were effectively torpedoed by USA once again.This year G20 meeting was supposed to be about reaching final agreement for restructuring IMF voting rights,but thanks to USA Congress refusing to pass required legislation nothing have been achieved at G20 summit in contrast to APEC one.Instead serious business we have seen photo ops of western"leaders",koala hugging and some kind of vague talks about increasing world GDP with 2 trillions.It will be interesting to see next moves by BRICS and other countries from now one-since is clear there is zero chance West stepping down and offer more rights for them in international financial organizations .

 

[TaiShang]

These efforts were effectively torpedoed by USA once again.This year G20 meeting was supposed to be about reaching final agreement for restructuring IMF voting rights,but thanks to USA Congress refusing to pass required legislation nothing have been achieved at G20 summit in contrast to APEC one.Instead serious business we have seen photo ops of western"leaders",koala hugging and some kind of vague talks about increasing world GDP with 2 trillions.It will be interesting to see next moves by BRICS and other countries from now one-since is clear there is zero chance West stepping down and offer more rights for them in international financial organizations .

I agree. Perhaps it is a good thing. The Chinese and Russian leaderships should have already realized the non-reformability of institutions that were formed and influenced by the West.

Time to create parallels, if not alternatives. BRICS and the SCO are two viable platforms and are working well.

The APEC this year seems to have been rejuvenated. I remember reading journal articles over the past few years on how APEC was destined to die. Seems like China does not thinks so.

 

[Galad]

Time to create parallels, if not alternatives.

Have same thought earlier .Rest of the world needs to create more alternatives to any West dominated organizations in order to achieve something.New G7,new G20,new rating agencies etc in which any western country will be accepted if only stop their harmful activities.Because as you see now West tactic is clear - create as much as possible chaos all over the world in order to prolong their ever decreasing relevance.Next years will be very very interesting I think.