World Bank President Jim Yong Kim, IMF chief Christine Lagarde, Indonesian ministers and Central Bank governor pose for a photo at the close of the meetings.
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Three days before U.S. President Donald Trump took office in January 2017, Chinese President Xi Jinping portrayed Beijing as the champion and defender of globalization at the Davos World Economic Forum amid rising fears of trade protectionism. A few months later, as Xi launched a forum on China's vast Belt and Road effort, promising to spread Chinese investment and soft power through the world, it appeared his country's global stature was rising.INEFFECTIVE INSTITUTIONSSome delegates from China at the Bali IMF and World Bank meetings expressed frustration that Beijing's agenda was being bypassed while international institutions had largely been ineffective in deterring Trump's tariff actions.The current leaders of the G-20, which bills itself as a leading forum that seeks to develop global policies and address the most pressing challenges, conceded that it is effectively sidelined on trade.Although there are reports that Xi and Trump will meet at the G-20 leaders' summit in November, Mnuchin told Reuters that currency issues would be part of trade talks, and that the onus was squarely on China to take concrete steps before trade talks could resume.
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