G20 summit – step to ease tensions

Russian President V.Putin and US President D.Trump hold a meeting on the sidelines of the G20 Summit in Osaka. RISS expert Vyacheslav Kholodkov believes that it is a remarkable event regardless of the outcome. "The two largest nuclear powers should not ignore each other," he said.

According to the analyst, BRICS leaders' meeting is also a significant event. BRICS is a key element of the emerging multipolar world. We can see that this new world is born in torments, and the old world aggressively resists it, he noted. President of Brazil J.Bolsonaro, who is known for his pro-American views, has also participated in the meeting. This proves once again that BRICS itself is much more important than the political views of the heads of its member states.

At the G20 Summit, participants discussed broad range of topics of mutual interest: the state and prospects of the world economy, the digital economy, Internet trade, cryptocurrencies, pensions, and environmental problems. RISS expert drew attention to the special importance of discussing the licensing of companies engaged in the cryptocurrency trading, as well as Internet trade in terms of developing common standards of taxation.

The topical issues of the summit were also US-Iran relations deteriorating and the problem of the US-China trade war. BRICS leaders and Japanese Prime Minister S.Abe also stressed the danger of a bilateral trade war. It is not surprising that one of the most discussed topics in mass media is the statement on the temporary truce in US-China trade clash. "This statement is China's obvious victory. We can admire Beijing's achievement. Now there are very few countries that can resist the aggressive US pressure. The US has recorded its slowest economic growth recently. Trump is under unprecedented pressure from American firms operating in China. These are the main reasons for Washington to keep the US-China truce in place. The world leaders are also against the trade war. America trembled. The world applauds China that survived under such tough pressure from the world hegemon," the analyst concluded.

China G20