“There are many Japanese firms who have trade relations with China and of course they hope that the trade war between China and the U.S. will end as soon as possible.”
As the second largest economy in the world, China has received great attention at the G20 summit. Many Chinese policies have a significant impact on the world economy and other G20 members, especially developing countries.
While eyes will be focused on the China-U.S. meeting that will take place on the sidelines of the summit, the quietly gathering momentum for Asian integration may prove to have far greater lasting significance for the world.
“The fact that many members see the need for updating the WTO, is the biggest factor influencing the need for reform.”
G20 members are hopefully to reach a consensus on reforming the appellate body at the summit.
Japan, assuming the G20 presidency for the first time, has expressed its explicit commitment to rebuild trust in the global trade system.