British Prime Minister Rishi Sunak attended his debut G20 summit on Sunday and urged world powers to unite against the exploitation of the global economy by “evil actors”.
After becoming the UK’s third prime minister this year, Sunak will have his first bilateral meetings with US President Joe Biden and other world leaders at the summit in Bali, Indonesia.
In addition to supporting Western unity against Russia over Ukraine, according to Downing Street, Sunak wants allies to strengthen the international financial system, including the World Trade Organization.
Developing countries must have access to credit for economic growth without becoming dependent on “exploitative” lenders, Sunak is expected to tell at the summit, echoing the G7’s criticism of China.
The WTO must be reformed to curb the “manipulation of world markets by evil actors,” he will also say in another coded critique of G20 member China.
Sunak’s warnings ahead of the summit against Russian President Vladimir Putin’s regime have been clearer.
“We will proclaim Putin’s regime and expose their utter disregard for the kind of international cooperation and respect for sovereignty forums such as the G20 represent,” he said in a statement on Saturday.
While Putin does not attend the summit, Sunak’s spokesman said the prime minister would confront Russian Foreign Minister Sergei Lavrov in Bali.
Some experts had questioned whether Sunak could go soft on Russia, given the economic crisis hitting Britain, as a result of rising energy prices.
But Sunak’s spokesman told reporters that Britain’s support for Ukraine “will not fade or change”.
In Bali, Sunak “will speak with our allies on this with one voice,” the spokesman added.
Sunak will return to Britain early on Thursday and head straight to his finance minister’s presentation of an emergency budget statement.
The statement is expected to include painful tax hikes and cuts, after Sunak’s short-lived predecessor Liz Truss panicked markets with a torrent of unfunded tax cuts.
Sunak said Thursday’s budget would indicate how we can get this country on the right track.
“But tackling the worst economic crisis in a decade will require a concerted effort from the world’s largest economies – these are not problems we can solve alone,” he said before flying to Bali.
“At the G20, leaders must stand up to fix the weaknesses in the international economic system that Putin has been exploiting for years.”
(Except for the headline, this story has not been edited by NewsMadura staff and has been published from a syndicated feed.)
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