The G20 Summit Opens Today, And The Textile And Garment Industry Expects The Sino US Trade Friction To "Cool Down".

Chinese President Xi Jinping arrived in Osaka on a special plane on 27 July. At the invitation of Japanese Prime Minister Abe Shinzo, he attended the fourteenth summit of leaders of the group of twenty, which is open today.

This is the seventh time that President Xi Jinping has attended or presided over the G20 summit. The experts said that under the current international situation, President Xi Jinping attended the G20 Osaka summit, which has been anticipated by all parties and will provide strong positive energy for the world economy facing difficulties.

"I particularly look forward to President Xi Jinping attending the summit," said Fujiwara Masahiko, a former official of the Ministry of economic and industrial province and a special research fellow of the think tank and General Research Institute. "We look forward to China continuing to play a leading role in the summit and pushing the parties to reach agreement on some global issues."

How is the busy schedule arranged?

President Xi Jinping attended the G20 Osaka summit with a busy schedule.

The first is the four plenary session of the summit. It is understood that President Xi Jinping will take part in discussions on issues such as world economy and trade, digital economy, inclusiveness and sustainable development, infrastructure, climate, energy, environment and other issues. He will thoroughly explain his views on the world economic situation and strive to find out the root causes of the current problems and set the right pulse.

"The world today is facing a great change in the past century. It is at the crossroads of development. All parties concerned in the future are heading for the same boat or falling apart." Zhang Yansheng, principal investigator of China International Economic Exchange Center, said that all sides looked forward to China as the world's second largest economy, putting aside the fog of the world economy.

The two is to attend the three multilateral sessions. In addition to the summit itself, President Xi Jinping will attend informal meetings of leaders of BRICs, informal meetings between China, Russia and India, and small meetings between Chinese and African leaders, and strengthen communication and coordination to deepen cooperation between emerging markets and developing countries, implement UN's sustainable development agenda for 2030, and promote pragmatic cooperation.

Experts said that these "meeting sessions" demonstrated China's firm support for multilateralism and helped to further deepen the consensus of emerging markets and developing countries around major issues and promote positive results of the G20 summit in Osaka.

The three is to hold bilateral meetings. During the summit, President Xi Jinping will hold bilateral meetings with the leaders of many countries, and strive to deepen cooperation with the countries concerned and push forward bilateral relations.

Among them, the first meeting of the US dollar has attracted worldwide attention.

Chen Fengying, a researcher at China Modern International Relations Research Institute, said that the United States should recognize that dialogue and consultation on the basis of mutual respect, equality and mutual benefit is the only way to resolve trade disputes. This is not only in the interests of China and the United States, but also the common aspiration of the international community.

What are the important points?

On the eve of the summit, the International Monetary Fund and the World Trade Organization issued a report expressing concern about the current world economic outlook. They believed that the restrictive measures imposed by G20 members and the trade tensions between them increased the uncertainty of world economic growth, and called on G20 members to work together to deal with them.

In response, experts interviewed generally believe that the uncertainty and instability of the current world economy are mainly caused by trade tensions, and trade tensions are mainly caused by unilateralism, protectionism and bullying.

Zhang Yuyan, director of the Institute of world economics and politics of the Chinese Academy of Social Sciences, said that the first challenge facing the global economy is protectionism. "Aggressive trade protectionism has had a serious negative impact on the world economy. China insists on building an open world economy and opposing protectionism, which has injected positive energy into the gloomy world economy.

Experts said that China has always upheld the rule based multilateral trading system and has always stood in the forefront of opposing unilateralism, protectionism and bullying. During the Osaka summit, China will continue to work together with all parties to issue a just voice that supports multilateralism, supports openness and inclusiveness, and supports win-win cooperation.

The G20 membership is broad and representative, and takes account of the balance of interests between developed and developing countries as well as different regions. Both in terms of volume and impact, it plays an important role in the global economy.

"Under the current circumstances, G20 should, as an important forum for international economic cooperation, play a role in promoting unity and cooperation and form a policy force to become a stabilizer for world economic growth." Chen Fengying said.

What signals do we send to the world?

"Development" will be one of the important topics of the Osaka summit. Experts said that the Osaka summit inherited and extended the consensus and achievements of the Hangzhou summit, especially the attention and input to development issues, showing China's leading role in promoting global economic governance.

In addition, the G20 finance ministers and central bank governors meeting held in early June approved the "G20 high quality infrastructure investment principles". According to the insiders, the outcome document is based on development and support for development, reflecting the important concept of "sharing, sharing and building" and "interconnection and interconnection" advocated by China.

"Jointly building" one belt and one road "will help promote cooperation between China and the vast number of countries in infrastructure, interconnection and other aspects, so as to drive investment and employment in related countries and promote local economic development, which is also a great benefit to the world economy. Zhang Yuyan said.

Before the summit, China has repeatedly released positive information on many issues of common concern to the international community.

In response to the wanton suppression of other countries by individual countries, China said it is willing to work with all parties to adhere to an open policy orientation and build a free, fair, non discriminatory, transparent, predictable and stable trade and investment environment for enterprises and investors from all over the world.

In response to the trend of "anti globalization", China advocates promoting the deep integration of trade and investment with digital economy, enabling new technologies and new knowledge to benefit more countries and people, and promoting economic globalization to be more open, inclusive, inclusive, balanced and win-win.

Many experts say that as the second largest economy in the world, China's unwavering efforts to deepen reform and open wider to the outside world have increasingly become the source of confidence in the world economy.

"The Osaka summit will enable the world to see China's embrace of the world and its openness and cooperation with other countries to share opportunities for development. This is a clear positive signal for the world economy, especially for investors." Chen Fengying said.

Through the G20 summit, the textile and garment industry looks forward to the "cooling down" of Sino US trade friction.

On the evening of June 18th, state leaders should make an ordinary call with President Trent of the United States to confirm that the two sides will meet during the G20 summit in Osaka and exchange views on "fundamental issues concerning the development of Sino US relations". This is a very important crossroads for the continued stalemate trade war between China and the United States. The textile and garment industry is looking forward to this day and hopes that Sino US trade friction can be "cool down".

It is reported that after the exchange of telephone between leaders of China and the United States last week, the pessimistic mentality of the market has been gradually restored. The futures market and the chemical fiber market should go up.

In addition, the import cotton market also showed signs of warming, and some port businesses in the early days stopped selling and waiting. With the recent small business mentality, cotton operators' enthusiasm has picked up. Although the industry generally believes that Sino US trade disputes can hardly be solved in a short time, some cotton traders hope to seize the recent macro message and promote the stock as soon as possible, so as to guard against the risk shock. According to the investigation of Qingdao port and Zhangjiagang, the current port is mainly Brazil cotton and India cotton. The mainstream offer price is 14500 yuan / ton, 14200 yuan / ton, lower than last week's low end quotation, the center of gravity moves upward 100-200 yuan / ton.

Earlier, according to Peng Bo, a person familiar with the matter said that the United States was willing to suspend tariffs on Chinese products for the next round of $300 billion. Meanwhile, Beijing and Washington are preparing for the resumption of trade negotiations. The two sides discussed how to demonstrate the resumption of trade negotiations to their respective countries, which is a victory. People familiar with the matter also revealed that the United States temporarily delayed the introduction of new tariffs, otherwise Beijing would not agree to the meeting.

At present, China and the United States will meet in accordance with previous arrangements, which will break the stalemate in Sino US trade negotiations, or push forward the signing of the Sino US trade agreement. Of course, we must seize the good atmosphere of this meeting and defend the recurrence of conflicts.

300 billion whether the tariffs on goods exported to the US are added or not, the answer is coming to the surface this week.