Chinese president Xi not expected to attend the G20 summit
- August 31, 2023
- Posted by: Quatro Strategies
- Categories: Business & Politics, China
Chinese President Xi Jinping is expected to skip the upcoming G20 summit in India, according to sources familiar with the matter. Instead, Premier Li Qiang is likely to represent China at the summit, scheduled for September 9-10 in New Delhi. The summit was seen as a potential opportunity for Xi to meet with US President Joe Biden, who has confirmed his attendance. The absence of Xi could impact efforts to stabilize relations between the US and China, which have been strained by various trade and geopolitical tensions.
Russian President Vladimir Putin has already announced that he won’t be attending the G20 summit and will send Foreign Minister Sergei Lavrov in his place. The absence of both Xi and Putin could impact the dynamics and discussions at the summit. It’s unclear why Xi is expected to skip the event, and Chinese officials have not provided a reason for this decision.
The anticipation of a meeting between Xi and Biden has been fueled by recent visits of top US officials to Beijing, including Commerce Secretary Gina Raimondo’s visit this week. The two leaders last met on the sidelines of the G20 summit in Bali, Indonesia, in November of the previous year.
Another potential opportunity for a face-to-face meeting between Xi and Biden is the Asia-Pacific Economic Cooperation Leaders Meeting in San Francisco in November. However, Xi’s overseas trips have been limited since China eased its pandemic-induced border controls this year. He attended a meeting of leaders from the BRICS countries (Brazil, Russia, India, China, and South Africa) in South Africa last week.
China’s decision to skip the G20 summit could have implications for discussions on various global economic and geopolitical issues. It remains to be seen how this absence will affect the relationships between the participating countries and the outcomes of the summit.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Tariff fears hang over global manufacturing as Europe stabilizes, Asia falters
Factory activity around the world is showing mixed signals, with Europe seeing tentative signs of stabilization while many Asian economies continue to grapple with subdued demand — largely due to the uncertainty stirred by U.S. tariff threats. As policymakers weigh their next moves, this uneven backdrop adds urgency to trade negotiations with Washington amid fragile hopes for a global economic revival.
Across the euro zone, the HCOB manufacturing Purchasing Managers’ Index (PMI) compiled by S&P Global edged up slightly to 49.5 in June from 49.4 in May. This marked its strongest reading since August 2022, but still left the index below the critical 50-point line that separates growth from contraction.
Mercedes-Benz bets on American manufacturing to navigate tariff risks
Mercedes-Benz announced on Thursday that it will begin producing a new vehicle at its Tuscaloosa, Alabama, plant in 2027, as part of a broader strategy to strengthen its U.S. presence amid escalating trade tensions. The company did not reveal which model will be added, saying only that it belongs to a “core vehicle segment” and reflects Mercedes’ deepening commitment to the American market.
The move follows President Donald Trump’s imposition of a sweeping 25% tariff on automotive imports, a policy that has rattled global carmakers and disrupted production planning. Although Trump softened some of the tariff measures this week, the broader impact on supply chains and investment strategies remains significant.
SQM-Codelco lithium JV wins final approval, Atacama set for new era
China has given a conditional green light to the tie-up between Chile’s SQM and state miner Codelco, removing the last major regulatory obstacle and clearing the way for a new era at the world’s most valuable salt flat for lithium. Beijing’s antitrust authority told the partners to keep honoring existing contracts and to sell to Chinese customers on fair, reasonable and non-discriminatory terms, a nod to China’s outsized role in battery materials and its concern that consolidation could distort supply.
With that decision, Santiago can finalize a public-private venture before the government’s term ends in March: Codelco will hold 50% plus one share, SQM keeps day-to-day control through 2030 and then hands the keys to the state, in exchange for an extended operating horizon that runs three more decades.