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Wednesday, November 22, 2017

Merkel Sounds Conciliatory Tone on Trade before G20 Summit

Posted by June 27, 2017

Angela Merkel (Photo: Federal government / Kugler)

Angela Merkel (Photo: Federal government / Kugler)

German Chancellor Angela Merkel said on Tuesday that global trade was not a zero-sum game and that she would seek to establish a rules-based commerce system that benefits all, striking a compromising tone before a G20 summit next week.
Merkel, who will host leaders of the G20 leading economies next week at a Hamburg summit where trade is expected to be one of the most divisive issues, added that Germany's large trade surplus was partly the result of factors beyond her influence: the ECB's expansive monetary policy and energy prices.
"My vision of globalisation is that in the global and interconnected world we need a rules-based trade system where all sides can win," Merkel said. "There is also an understanding of globalisation that there are winners and losers as if it is a zero-sum game and I don't believe in this."

(Reporting by Joseph Nasr; Editing by Thomas Escritt)
Germanyenergy pricesEuropean Central Bank