and growing tensions between China and the West will be at the fore when leaders of the world’s biggest economies gather in tropical Bali this week.
The US and allies in Europe and Asia, meanwhile, increasingly are squaring off against a more assertive China, leaving emerging G-20 economies like India, Brazil and host Indonesia to walk a tightrope between bigger powers. Last year’s G-20 summit in Rome was the first in-person gathering of members since the pandemic, though the leaders of Russia and China didn’t attend.
The July deal allowed major global grain producer Ukraine to resume exports from ports that had been largely blocked for months because of the war. Russia briefly pulled out of the deal late last month after its Black Sea fleet was attacked, only to rejoin it days later. United Nations Secretary-General Antonio Guterres is urging the G-20 to provide financial help for the developing world.
The Chinese economy, the world’s second largest, grew at a 3.9 per cent in the latest quarter. But economists say activity is slowing under the pressure of pandemic controls, a crackdown on technology companies and a downturn in the real estate sector, a vital driver of demand and a source of millions of jobs.
Biden and Xi will hold their first in-person meeting since Biden became president in January 2021 on the event’s sidelines Monday.
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