The 11th G20 Summit in Hangzhou saw groundbreaking achievements, President Xi Jinping said in his concluding remarks on Sept 5. Leaders of major economies reached consensus on seeking workable solutions for global economic growth, and strengthening policy coordination. Compared with previous summits, the Hangzhou meeting undoubtedly bore more fruit.
The G20 leaders’ communique delivered at the Hangzhou summit in 2016 provides a framework to give a new direction to the world economy. The communique’s most unique significance is that it reflects diversity of voices and interests of developed and developing economies, in and outside of the G20.
An anti-globalization trend has emerged that endorses trade protectionism, isolationism, populism, and extremism. Accordingly, our world stands at a crossroads.
Wang Wen, Executive Dean of the Chongyang Institute for Financial Studies at Renmin University of China, was interviewed by CCTV News Hour Program on G20 achievements on Sep.6th.
Vietnam is a kingdom of motorbikes. In the country, with a population of over 90 million, there are nearly 20 million motorbikes. Chinese tourists tend to think most of the scooters they see are made by Chinese. But in fact, they are largely Japanese-produced.
Much has, and still can, be written about China`s development journey since the late 1970s, but drastic changes could be said to have occurred in the last two years in shouldering international responsibility.
Liu Zhiqin was interviewed by CCTV NEWS HOUR program on innovative growth on Sep.7th.
President Xi presented China’s strategies to provide impetus for future economic growth such as; innovation driven development strategy to provide stronger and new growth drivers, green development, promoting equity and further opening to achieve greater mutual benefit.
China`s ambition to advance reform and maintain medium to high growth has injected hope and stability into the world economy, experts have observed.
China is committed to advancing the freedom of global trade and investment and hopes that not just China but also Western countries expand access for foreign investment, experts noted Tuesday.
The G20 - comprising 19 countries and the EU, with representatives from the Bretton Woods institutions and established just at the turn of the century, provides a new way forward for transnational governance that works for not only China, but also for 19 other major economies.
Wang Wen, Executive Dean of Chingyang Institute for Financial Studies at Renmin University of China, talked about G20 Summit`s achievements this year at the studio interview of CCTV on Sep.5th.
Group of 20 (G20) leaders are aware the global economy has not overcome the effects of the international financial crisis. There is a wide understanding that without China`s continued economic development since that crisis began anaemic global growth would be even worse.
China hopes the Hangzhou summit will come up with "an integrated pre1111ion to address both the symptoms and root causes so that the world economy could move along a path of strong, sustainable, balanced and inclusive growth," President Xi Jinping said while addressing the opening of the summit.
Xi proposed that the summit should strengthen coordination of macro-economic policies, facilitate economic expansion worldwide, safeguard financial stability, make innovations on growth patterns, tap new potential, optimize global economic governance and make institutional improvements.The summit should also increase the openness of the world economy, facilitate trade and investment and boost inclusive development.
The new global context calls for integration of technology and innovation into all aspects of global economic debate. The G20 may very well be the right place to steer a global innovation agenda to promote inclusive and sustainable economic growth and development.
It would seem that the West Lake boat trip with Xi being flanked by leaders of both developed countries and emerging markets could signal an increasingly important role China seeks on the world stage: a bridge between the developed and developing nations.
Several important meetings and dialogues have already been held, as leaders from across the world join Chinese President Xi Jinping in seeking solutions and breakthroughs to crucial issues such as spurring global economic growth, strengthening international economic cooperation and building a new scheme of economic governance against the background of slowing world growth.
The G20 summit meets against the backdrop of two interrelated global issues.First,since the international financial crisis global growth has been slow. Second, asa result social and geopolitical crises have persisted. China’s proposals for the G20 summit – an innovative, invigorated, interconnected and inclusive economy –simultaneously and in an integrated way address both issues.
This year’s G20 summit is being hosted in Hangzhou under China’s leadership. This meeting is being held with the backdrop of Brexit and the emergence of Trump’s leadership in the USA. These two are important in the context of Western leadership moving towards the agenda of nationalism and possible protectionism.