What are the expectations at the upcoming G20 summit

China and the United States are expected to ratify the Paris Agreement on climate change before the G20 summit to be held in the Chinese city of Hangzhou.

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August 27, 2016

With the 2016 Group of 20 (G20) summit only 10 days away, world media have zoomed in on the annual event and multilateral activities on the sidelines of the summit.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]R[/dropcap]ussia’s news broadcast service Sputnik said China and the United States are expected to ratify the Paris Agreement on climate change before the G20 summit to be held in the Chinese city of Hangzhou.

The announcement of ratification is expected to be made on Sept. 2, the South China Morning Post reported citing its sources.

A total of 130 investors wrote to G20 leaders on Wednesday, urging them to ratify the Paris Agreement by the end of 2016 and to step up efforts to shift from fossil fuels, Reuters reported.

Ukraine is another concern of the world media.

Reuters said leaders of Russia, Germany and France have agreed to meet to discuss the situation in Ukraine on the sidelines of the G20 summit.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]A[/dropcap] recent surge in fighting in eastern Ukraine, where Kiev is fighting pro-Independence forces, and fresh tension in Crimea have raised concern that a fragile cease-fire agreed in Minsk in February 2015 could collapse.

Russian President Vladimir Putin held a phone call with German Chancellor Angela Merkel and French President Francois Hollande on Tuesday, the Kremlin said.

Financial Times said Wednesday that iron ore traders are likely to closely monitor the G20 summit and study the impact on the market for iron ore as Beijing tries to ensure clear skies ahead of the event.

The G20 summit could see steel output reduced by 3.3 million tons, analysts at Morgan Stanley estimated.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]T[/dropcap]he G20 is an international forum for the world’s 20 biggest economies. It groups Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, along with the European Union.

Notes: Xinhua-(This story has not been edited by PGurus.com and is generated from a syndicated feed we subscribe to)