G20 struggles with sluggish global economy

Finance policymakers from the world’s 20 largest economies vow to boost global economy but fail to outline concrete joint action.
Chinese finance minister Lou Jiwei delivers a speech at a G20 seminar on Friday.
Chinese finance minister Lou Jiwei delivers a speech at a G20 seminar on Friday.

Finance policymakers from the world’s 20 largest economies vowed on Saturday to use a series of policy tools to boost the global economy and avoid currency wars but failed to outline any concrete joint action.

The G20 group met in Shanghai seeking to address issues including volatile markets, slumping commodity prices and the UK’s potential exit from the European Union.

“For the members of G20, they should go bold, go broad and go together,” said Christine Lagarde, managing director of the International Monetary Fund, at a press conference on Saturday.

Instead, they ended up agreeing to press ahead...

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