Wang Wen, Executive Dean of the Chongyang Institute for Financial Studies of Renmin University of China, was interviewed by CCTV Dialogue program on G20 Summit and think tank on Sep.2nd.

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We have four `I`s for the G20 conference: inclusive, innovative, invigorated, interconnected, Wang Wen said in the program. The global economic growth is low, that is why we added innovation in the theme, not only technical innovation but institutional innovation as well. Looking at the Euro-Asia continent, the outer two sides are very developed, while the inner side is not very developed. So we need to interconnect them. There is too much protectionism in the world, so we need passion to deal with that. That lead to one of the word that was used by the Turkish conferences, inclusive. Development should include the poor under-developed country.

Wang emphasized that the current condition of GDP growth is not optimistic. Since 2009 to 2015, the global GDP growth rate is only 3.5%. The database is going down, and in the next years we still face the decreasing momentum. That is why we need G20. The conference not only invited the listed 20 countries, but other emerging countries as well to discuss and make policy coordination. Then we can unite and push the next run of the economic growth. So I think G20 have more functions than before.

Wang pointed out that In the history of the international game, the rule is always that only one side would win. In the last 25 years all the African countries lost so much in globalization, especially those who following the west model. That is part of the reason that China`s model is being reconsidered. Though the game is still a zero-sum game, China`s rise could also bring lots of benefits for the world, especially for the emerging economies.

Wang said that we will have an important achievement in trade field in Hangzhou Conference. Every year we are about to have the trade minister meeting, which would get all the ministers sit down and discuss about the trade problems. That would break the condition that the trading being controlled by the G7 group.

For the role of think tanks, Wang said that the scholars in the think tank are responsible for explaining to the public and decision makers. For example, in the T20 conference, more than 1000 experts gathered together to discuss about the policy for the decision makers, including the G20 leaders. Additionally, our suggestion also made contribution for obtaining the host of the G20 conference. Nowadays the governments` demand for idea is increasing. In the past 3 years president Xi mentioned about think tanks more than 20 times. During our last meeting he listened carefully when I gave him advice with full attention.