US President Donald Trump met Chinese President Xi JinPing in G-20 summit. Both countries president stated that we do not want trade war as it is of no one interest.
Trade tremors are already having an impact on growth projections since last 5 years. It may become a reason of global recession. Both countries will suffer huge losses if trade war continues. On the other hand during G-20 administrator session World Trade Organisation (WTO) agreed to revise the world trade rules and systems.
While other countries ambassador sign on agreement regarding global environment changing except US.
WTO considers and accepts that it is the need of time to revise global trade policies. Remove trade conflict and disagreement between developed countries.
Further they also decided that G20 sessions in 2019 will be held in Osaka, Japan and 2020 G20 summit will be held in Riyadh, Saudi Arabia.
By Talha Pasha