Good morning, here’s your Friday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
G20 trade ministers talk Trump
Argentina will today host a gathering of representatives for each of the G20 nations, with Donald Trump’s aggressive trade tariffs likely to dominate the meeting.
Timeline for Trade ties
- December 20, 2018
President of the United States Trump threatened China with another 10-25% increase in tariffs on technology, clothing and manufacturing products imported into the US last week in a move that once again rattled the global markets.
Deputy US Trade Representative Dennis Shea, who will be attending the meeting, will “promote President Trump’s priorities for free, fair and reciprocal trade,” the Office of the United States Trade Representative (USTR) has said.
Representatives from the European Union, Argentina, Australia, Brazil, Britain, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey will also be present.
Maduro swaps Caracas for China
As most of the world heads to South America for trade talks, Venezuelan President Nicolas Maduro will head to the Far East for talks with China’s President Xi Jinping.
Maduro’s visit to Beijing comes the day after China agreed to lend $5bn to the cash-strapped country.
Venezuela is currently experiencing an economic crisis. Given the scale of Venezuela’s foreign debt, the nation has had few options to turn to in a search for new financing.
Maduro’s government has promised to pay back the loan in either cash or oil. Likewise, the two nations are expected to begin a “strategic alliance on gold mining” according to Economy and Finance Minister Simón Zerpa.
Maduro will also meet China’s Premier Li Keqiang and Chairman Li Zheshu during the visit.
OECD looks at lessons learned since the financial crisis
With this week marking 10 years since the collapse of the Lehman Brothers the Organisation for Economic Co-operation and Development (OECD) will today hold a conference on the lessons learned in the decade since the global financial crisis.
Participants will include former Greek finance minister Yanis Varoufakis, former European Central Bank President Jean-Claude Trichet, political economist Robert Skidelsky and OECD Secretary General Angel Gurria.
3 Things That Will Change the World Today
Four sessions will take place throughout the day focusing on the causes of the financial crisis, what has changed since, the impact on the social and political landscape, and changing approaches to economics since the crisis.