Page 17 - Developing World News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A gloomy economic outlook and ESG concerns have more funds and investors shunning the country’s stocks.

Leaders of many of the world's biggest economies prepared to huddle in the Indian capital for the Group of Twenty summit Saturday, though growing global rifts and the absence of key players meant that reaching consensus on the thorniest issues could prove elusive. At least a fifth of G20 heads were not in New Delhi. The leaders of Russia and China opted not to come, ensuring no tough face-to-face conversations with their American and European counterparts over multiple disputes, most acutely the war in Ukraine.

President Biden was hoping to convince the world’s largest economies to rally behind Ukraine during Saturday’s Group of 20 summit in India while also pressing his case for American investment in the developing world.

At the G-20 meeting, the administration will unveil its plans to counter growing Chinese influence with a new approach to economic development that prioritizes climate action and inclusive growth. But countries burned by decades of Western-imposed austerity aren’t convinced.

At the G-20 meeting, the administration will unveil its plans to counter growing Chinese influence with a new approach to economic development that prioritizes climate action and inclusive growth. But countries burned by decades of Western-imposed austerity aren’t convinced.