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G20 seeks to stimulate trade to revive world economy

G20 trade ministers meeting in Shanghai, expressed their willingness to boost trade to revive the global economy, despite growing protectionism, risks caused by Brexit and excess steel capacity.

"The global recovery is uneven (...) trade and investment should remain the essential engines of growth," said Sunday ministers and delegations of the 20 great powers, which together account for 80% of global trade.

But the data are negative: the rate of progression of international trade has collapsed after the financial crisis, and has stagnated at 3% annually since 2009, with more than 7% in the two preceding decades.

"We remain committed" with "an open world economy, and will work more towards liberalization and facilitation of trade" trade, said Chinese Commerce Minister Gao Hucheng, citing the terms approved by the participants.

Regarding the Brexit, Chinese Vice Commerce Minister Wang Shouwen, he acknowledged that "obviously have short-term consequences in world trade".

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