US set to shift its approach towards G20 when it takes over group’s rotating presidency from South Africa in December.

"The G20 was built around a presumption that all the world's major economies shared a common interest in a stable, relatively open global economy," said Brad Setser of the Council on Foreign Relations. "But Trump doesn't really care about stability and wants a more closed global economy."

A meeting of finance ministers and central bank governors from the Group of 20 in Durban, South Africa, will seek to deepen global relationships in "turbulent times", German finance ministry sources said on Tuesday,

The finance ministers of the Group of 20 (G20) developing and developed countries have agreed on a joint final statement at their meeting in the South African city of Durban for the first time since US President Donald Trump took office for his second term.