The Group of 20 members begin talks on the Indonesian resort island Tuesday under the hopeful theme of 'recover together, recover stronger.'
NUSA DUA, Indonesia — A showdown between Presidents Joe Biden and Vladimir Putin isn't happening, but fallout from Russia's invasion of Ukraine 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 U.S. 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 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% pace 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. The U.S. is at odds with China over a host of issues, including human rights, technology and the future of the self-ruled island of Taiwan. The U.S. sees China as its biggest global competitor, and that rivalry is only likely to grow as Beijing seeks to expand its influence in the years to come.
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