1. G20 conclusion
The weekend’s G20 Summit has culminated in a G20 communique in which leaders have agreed to “support strong and effective action to address climate change.”
Prime Minister Abbott told reporters “It has been a weekend of achievement,”
“I believe that the G20 this weekend has shifted a gear from responding to events to setting an agenda for growth.”
Mr Abbott said he believed that the countries of the world and their people, “will be better off” because of the G20.
The agreement includes pledges to reform labour markets, boost trade around the world and promote competition which will add 2% to economic growth over five years compared with a “business as usual” scenario. This communique would increase output by about $2 trillion.
One initiative the “25 by 25” will look to cut the gap between men and women participating in the workforce 25 per cent by 2025.
Russian President Vladimir Putin controversially left the summit early before the leaders’ lunch yesterday, telling a press conference he needed to get home and get some sleep before work on Monday morning.
2. Obama slammed for chewing gum
The US President Barack Obama has been criticized by Chinese bloggers after he has been spotted smacking gum as he chatted with British Prime Minister David Cameron at the G20.
Chinese bloggers thought the president looked like “an idler” or a “rapper” USA Today has reported.
3. Free trade agreement
Australian will today sign a free trade agreement 10 years in the making with China that will see billions of dollars in new markets for Australian exporters.
The Chinese President Xi Jinping will sign the agreement with Prime Minister Tony Abbott this afternoon after giving a historic speech to a joint sitting of the Australian Parliament reports Fairfax Media.