G20

Looking at the recent state of global politics, we can see a strong trend in which President Trump is attempting to solve everything by bringing up bilateral deals. However, unlike at the APEC Summit, the G20 Summit was able to put together a Leaders’ Declaration. The fact that an agreed document was produced not bilaterally, but at a multilateral forum, is an important outcome. On the other hand, I believe that we will see progress in the creation of new rules surrounding commerce that differ from those that exist now. I should note that the problems between the United States and China are not only about trade friction; they also involve strategic factors in the form of competition between the two nations for dominance in the global market. These are very deep-seated issues. As the Chair nation of the G20, Japan will need to raise issues toward the promotion of free trade and contribute to the development of the international community.

Source: Keidanren

Image: G20 Japan