You are here: Home » PTI Stories » National » News
Business Standard

Germany takes G-20 chair, Merkel condemns protectionism

AP  |  Berlin 

has taken over the presidency of the Group of 20 world powers, with Chancellor Angela Merkel insisting protectionism isn't the answer to fears about globalization.

Germany's yearlong presidency started today and will culminate in a summit in Hamburg in July.

Merkel said in a video message that the stability of the world economy and "responsible global climate policy" will be central issues.

Merkel said "there will be no return to a world before globalization" but it can be shaped in ways that put people at the forefront. "Isolation, new nationalism and protectionism will not help us in this," she added.

The G-20 comprises Argentina, Australia, Brazil, China, Germany, France, Britain, India, Indonesia, Italy, Japan, Canada, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the U.S. And European Union.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 01 2016. 22:07 IST