G20 Summit attendees look for assurance from US

G20 Summit

A warm welcome for the U.S. Treasury Secretary Steven Mnuchin in Germany as he meets with fellow G20 finance ministers for the first time – and they try to work out where U.S. economic policy might be heading.

CGTN’s Guy Henderson reports.

At the end of the morning session, G20 finance ministers appeared unanimous in their support for quite the opposite.

“U.S. growth comes along with world-wide growth. The U.S. Treasury Secretary supports open trade and open markets – therefore I think some of the existing concerns will diminish,” Wolfgang Schaeuble, German Finance Minister said.

Just like the Secretary of State who came to Germany a month before him, Mnuchin is abroad to soothe nerves abroad but keeping a low profile.

The head of the U.S. Federal Reserve stood out from the crowd though – this week, Janet Yellen raised interest rates for only the third time since the 2008 financial crisis.

The Eurozone hasn’t yet followed suit. Warnings here that the single currency still has fragilities.

For more discussions on the G20 summit, CGTN’s Elaine Reyes talked to Liu Zhiqin, senior fellow at Chongyang Institute for Financial Studies at Renmin University of China.