Market Overview

The annual G20 Summit, where 20 nations meet, is currently underway in Osaka Japan. The major issues on the agenda are the ongoing trade war between the two biggest economies in the world, China and the U.S and the rising tensions between the U.S and Iran. This tension could threaten global oil supplies.

According to Bloomberg the meeting may ‘set the direction for the global economy and make the difference between war and peace in geological hotspots.’

The meeting between U.S President Donald Trump and Russian President Vladimir Putin has already taken place. Although there seems to be tension between the two countries, the leaders appeared to be at ease with each other. Trump even warned Putin to not meddle in the U.S elections, while answering a reporter’s question, with a laugh and a smile. In a statement, Trump said that the two leaders enjoyed a “very, very good relationship. Many positive things are going to come out of the relationship.”

Ahead of Trump’s meeting with Chinese President Xi Jinping tomorrow, Putin, Indian Prime Minister Narendra Modi, and European President Jean-Claude Juncker have all asked the two superpowers to settle their differences. Trump’s viewpoint about the meeting is that China is desperate to reach a deal because its economy is “going down the tubes” according to The Guardian.

Xi hit back by saying that “some developed countries were taking protectionist measures that are leading to trade conflicts and economic blockade.” He called them, as stated by The Guardian, the biggest risk of the increase in instability in the global economy.

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