Financial leaders from the Group of 20 (G20) have expressed concerns that trade disputes among major economies could pose downside risks to the global economy, Argentine Treasury Minister Nicolas Dujovne has said.

“Concerns on trade disputes occupied some part of the discussions that we had yesterday, and, of course, it is still one of the three main concerns in terms of the downside risks for the economy,” Dujovne told reporters in Washington on Friday after wrapping up a two-day meeting of G20 finance ministers and central bank governors under Argentina’s presidency, Xinhua reported.

“We discussed trade and the potential impacts on the global economy and the potential disruption that modifications on the trade scheme can actually pose to the global economy,” he said.

While some differences over trade appeared in the last few months, Dujovne said G20 members “still have a very big consensus on the benefits of trade for growth.”

“The idea that the gains from trade have to be evenly shared is a concern that was placed both by advanced economies and emerging economies,” echoed Argentine central bank governor Federico Sturzenegger, noting “there was general appeal for multilateralism”.

However, the G20 meeting didn’t discuss specific trade measures, which are appropriate for the World Trade Organization (WTO) to deal with, according to Dujovne.

Chinese Vice Finance Minister Zhu Guangyao said at the meeting that current global recovery is facing “substantial challenges from a strong wave of anti-globalization and unilateralism.”

He urged G20 members to “firmly support the multilateral trading system” and strengthen macroeconomic policy coordination so as to lay a solid foundation for sustainable global growth, according to a statement posted on the website of China’s Ministry of Finance.

The G20 meeting comes after the Trump administration recently announced additional tariffs on imported steel and aluminium and threatened to impose broad tariffs against Chinese imports.

These unilateral protectionist measures have sparked widespread criticism and provoked threats of retaliation from major trading partners, raising the prospect of escalating global trade conflicts that threaten global recovery.

 Violent anti-government protests that spread across Nicaragua in response to its social security system reforms have claimed more than five lives in three days of rioting, reports said.

The violence follows the decision of the Sandinista National Liberation Front (FSLN) government to push through reforms that would apply a five per cent tax to old-age and disability pensions and increase the contributions paid by both employees and employers.

The reforms, which went into effect on Wednesday, were in response to the financial crisis affecting its National Social Security Institute (INSS), The Guardian reported.

Some reports over Friday night put the death toll between five and 10. Consecutive governments have been accused of using the INSS as a source of “petty cash”.

Rosario Murillo, the vice-president and wife of President Daniel Ortega, has defended the reforms in national radio address.

Murillo has comparing the protests to “vampires, needing blood to feed their political agendas”.

Alleged fraud in electoral processes have allowed Ortega to control the country’s national assembly and make important constitutional changes, including his own right to serve more than two terms as president.

Russian Foreign Minister Sergei Lavrov has said building up the presence of the United Nations (UN) in Syria deserves attention as it will help collect reliable information.

Russia cannot accept the situation that UN agencies produce reports and statements based on information from other sources than UN’s own ones, he said at a joint press conference on Friday following talks with visiting UN Special Envoy for Syria Staffan de Mistura, Xinhua reported.

Lavrov criticised the US-led missile strikes on Syria last week as they undermined the Geneva talks for the Syrian settlement under the auspices of the UN at a time when Russia, Turkey and Iran very closely approached the resumption of the Geneva process.

He asked the UN to step up humanitarian aid to the Syrian people and help with the reconstruction of housing, infrastructure and facilities of the war-torn country’s national economy.

De Mistura said at the press conference he was pleased that Russia remains committed to pushing for a political settlement of the Syrian crisis.

He said the deconfliction mechanism between Russian and the US forces in Syria has been effective and should continue.

De Mistura expressed the hope that experts of the Organization for the Prohibition of Chemical Weapons (OPCW) will visit Douma district near the Syrian capital of Damascus as soon as possible to investigate an alleged chemical weapon attack by the Syrian government forces.

The US, Britain and France launched intensive missile attacks on Syria on April 14, saying the move was in response to the alleged chemical weapon attack.

Damascus denied the accusation and Russia said its military experts found no traces of toxic substances in Douma.

The OPCW experts are now in Syria for the investigation, but so far they have not visited Douma.

Western countries accused Russia of hindering the OPCW investigation, while Moscow said that the experts cannot enter the area due to a lack of the UN’s permission over safety concerns following the US-led strikes.

The State Administration of Cultural Heritage (SACH) in China launched a database on Friday for stolen foreign antiques to prevent them from entering and circulating in the country.

The administration will go on to ask entry-exit examination offices to intensify the supervision over the entry and exit of stolen foreign antiques, Xinhua reported.

It also called on professional institutions, practitioners and the public to check the database from time to time, to avoid the purchase or sale of such items.

The damage to cultural heritage has become a common challenge for the international community, and the stealing and trafficking of antiques has damaged the historical and cultural legacy of many countries, the SACH said in the statement.

Last year, the administration joined with the Ministry of Public Security in a similar platform for stolen Chinese antiques.

Since 2008, the SACH has made public information on over 6,900 stolen foreign antiques.

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Beijing, April 21 (IANS) The State Administration of Cultural Heritage (SACH) in China launched a database on Friday for stolen foreign antiques to prevent them from entering and circulating in the country.

The administration will go on to ask entry-exit examination offices to intensify the supervision over the entry and exit of stolen foreign antiques, Xinhua reported.

It also called on professional institutions, practitioners and the public to check the database from time to time, to avoid the purchase or sale of such items.

The damage to cultural heritage has become a common challenge for the international community, and the stealing and trafficking of antiques has damaged the historical and cultural legacy of many countries, the SACH said in the statement.

Last year, the administration joined with the Ministry of Public Security in a similar platform for stolen Chinese antiques.

Since 2008, the SACH has made public information on over 6,900 stolen foreign antiques.

(Ians)