Germany takes over as new chair of G-20

There will be no return to a world before globalization, Merkel said.

Berlin: Germany on Thursday took over the presidency of the powerful Group of 20 world powers.

Germany's yearlong presidency started today and will culminate in a summit in Hamburg in July, AP reported.

In a video message, German President Angela Merkel said that the stability of the global economy and "global climate policy" will be central issues.

"There will be no return to a world before globalization" and "Isolation, new nationalism and protectionism will not help us in this," the report quoted her as saying.