Eco­nomic agenda gets full sup­port

China Daily (USA) - - G20 2016 CHINA - By ZHOUWA zhouwa@chi­nadaily.com.cn

Germany wel­comes China’s G20 eco­nomic agenda and called for more in­no­va­tion, less pro­tec­tion­ism and more struc­tural re­forms, Ger­man am­bas­sador to China Michael Clauss told China Daily ahead of the sum­mit.

“We strongly wel­come that China has put the ques­tion of how to re­an­i­mate the world’s econ­omy at the top of the agenda. We hope that the sum­mit will help us move for­ward with re­spect to three is­sues in par­tic­u­lar: more in­no­va­tion, less pro­tec­tion­ism and more struc­tural re­forms,” said the am­bas­sador.

“We be­lieve that for bring­ing us backon a path to­ward sus­tain­able growth, the world needs to move fur­ther on these three is­sues. We are glad China will raise them in­Hangzhou and we ex­pect that the sum­mit will gen­er­ate much needed mo­men­tum.”

Lead­ers of G20 mem­bers and im­por­tant international or­ga­ni­za­tions will gather in east­ern China’s Hangzhou to look for so­lu­tions against a back­drop of en­er­vated global growth.

There are high ex­pec­ta­tions on world lead­ers to move away from debt-re­duc­ing aus­ter­ity poli­cies to­ward more fis­cal ex­pan­sion.

“Growth propped up by un­sus­tain­able debt can no longer be the an­swer. Many economies around the world are held back by deep-rooted struc­tural prob­lems. If these were ad­dressed by con­struc­tive re­forms, the world’s econ­omy would quickly be­come more re­silient and dy­namic,” said the am­bas­sador.

“We strongly be­lieve that struc­tural re­forms are keys to re­viv­ing the world’s econ­omy and we wel­come that China has put this is­sue on the sum­mit agenda.”

Clauss also called for re­mov­ing pro­tec­tion­ism.

Ac­cord­ing to a re­port on G20 trade mea­sures from World Trade Or­ga­ni­za­tion, the ap­pli­ca­tion of new trade-re­stric­tive mea­sures by G20 economies in­creased in the pe­riod be­tween midOc­to­ber of last year and mid-May of 2016, when com­pared to the pre­vi­ous re­port­ing pe­riod.

It has al­ready reached the high­est monthly av­er­age reg­is­tered since the WTO be­gan its mon­i­tor­ing ex­er­cise in 2009.

“Germany is con­vinced that pro­tec­tion­ism con­sti­tutes a ma­jor hin­drance and threat to the world econ­omy. We hope that the G20 will send out pow­er­ful sig­nals in fa­vor of free trade and open mar­kets,” he said.

Be­side eco­nomics and fi­nance is­sues, Germany will call for a swift im­ple­men­ta­tion of the Paris agree­ment on cli­mate change and will ad­vo­cate for dis­cussing the dan­ger re­sis­tance to an­tibi­otics poses to global health.

“We would also like to see flight and mi­gra­tion ad­dressed. The cur­rent refugee cri­sis is a global phe­nom­e­non, and Germany has been par­tic­u­larly af­fected. Given that the G20 mem­bers rep­re­sent 80 per­cent of the worlde­con­omy, there could be no bet­ter plat­form to dis­cuss these is­sues,” said the am­bas­sador.

Germany will take over the G20 pres­i­dency next year. Clauss said many is­sues such as sus­tain­able growth and the chal­lenge of refugees will con­tinue to be dis­cussed in­Ham­burg in July 2017.

MICHAEL CLAUSS Ger­man Am­bas­sador to China

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.