G20 ush­er­ing in group lead­er­ship

For­eign Min­istry says nearly 30 out­comes pre­dicted for leader gath­er­ing will make it one of the most pro­duc­tive ones yet

China Daily (USA) - - FRONT PAGE - By CHEN WEIHUA in Wash­ing­ton chen­wei­hua@chi­nadai­lyusa.com

The upcoming G20 sum­mit will re­flect a chang­ing global po­lit­i­cal and eco­nomic land­scape, ac­cord­ing to a prom­i­nent scholar.

Chi­nese For­eign Min­istry spokesman Lu Kang an­nounced in Bei­jing on Wed­nes­day the list of for­eign lead­ers com­ing to the sum­mit, from US Pres­i­dent Barack Obama and Rus­sian Pres­i­dent Vladimir Putin to In­dia Prime Min­is­ter Naren­dra Modi and the new Bri­tish Prime Min­is­ter Theresa May.

“The G20 Hangzhou sum­mit is ex­pected to reach nearly 30 out­comes if all of us work to­gether. That will make the sum­mit one of the most fruit­ful ones,” he told a daily press brief­ing.

The G20 sum­mit, to be held in East China’s scenic city of Hangzhou from Sept 4-5, will be the first hosted by China.

Cheng Li, di­rec­tor and se­nior fel­low of the John L. Thornton China Cen­ter of the Brook­ings In­sti­tu­tion, said that the sum­mit is be­ing held at a time of se­ri­ous con­cern about a global fi­nan­cial cri­sis, in­clud­ing strong anti-glob­al­iza­tion sen­ti­ment.

He noted that China has been in a good po­si­tion while some ma­jor in­dus­tri­al­ized nations have been haunted by pop­ulism and an anti-glob­al­iza­tion mood, cit­ing the re­cent Brexit and the on­go­ing US pres­i­den­tial cam­paign be­ing run by Repub­li­can nom­i­nee Don­ald Trump.

Both Trump and Demo­cratic pres­i­den­tial nom­i­nee Hil­lary Clin­ton op­pose the Trans-Pa­cific Part­ner­ship, a free trade agree­ment be­tween

China be­lieves that whether you want it or not, glob­al­iza­tion is an in­evitable trend.” Cheng Li, Brook­ings In­sti­tu­tion

the US and 11 other Pa­cific Rim coun­tries.

To Li, ma­jor Western nations are grad­u­ally los­ing their edge while emerg­ing mar­kets, such as BRICS nations, have be­come in­creas­ingly ac­tive in the eco­nomic arena.

Un­like this year’s G7 sum­mit held in May in Ja­pan, which is a club of de­vel­oped nations, G20 in­cludes ma­jor emerg­ing mar­kets. “This re­flects the chang­ing global po­lit­i­cal and eco­nomic land­scape and the grow­ing clout of the emerg­ing mar­kets,” Li said.

China has been a ma­jor ben­e­fi­ciary of glob­al­iza­tion and has been play­ing a big role in a wide range of ar­eas, from the eco­nomic and trade sec­tors to fi­nance and tourism, ac­cord­ing to Li. “China be­lieves that whether you want it or not, glob­al­iza­tion is an in­evitable trend,” he said.

Un­der such cir­cum­stances, China can play an im­por­tant role in such is­sues as poverty re­duc­tion and help­ing en­sure fi­nan­cial sta­bil­ity and gover­nance, ac­cord­ing to Li.

Li de­scribed the anti-glob­al­iza­tion sen­ti­ment now seen in some Western coun­tries as a “brief in­ter­lude” and “trib­u­tary”.

“The main­stream will con­tinue to be fur­ther in­te­gra­tion of the global econ­omy. Iso­la­tion­ism is not the an­swer,” he said.

Li be­lieves that the world should bet­ter ad­dress any pos­si­ble neg­a­tive im­pact from glob­al­iza­tion in­stead of re­sort­ing to iso­la­tion­ism.

The ap­proach should be a bet­ter and more sen­si­ble global gover­nance, a nar­row­ing of the gap be­tween rich and poor and also ef­forts to pre­vent pos­si­ble crises caused by such things as ter­ror­ism, cli­mate change and nu­clear pro­lif­er­a­tion, ac­cord­ing to Li.

“It is not about one coun­try re­plac­ing an­other, but rather the col­lec­tive lead­er­ship in global gover­nance,” Li said of the upcoming sum­mit.

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