China’s Rem­edy For World Econ­omy Echoed At Meet­ing

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World lead­ers, in­ter­na­tional in­sti­tu­tions, and com­pany rep­re­sen­ta­tives at­tend­ing the 2nd “In­vest­ing in Africa Fo­rum” are call­ing for in­no­va­tive ways to re­ju­ve­nate eco­nomic growth, which co­in­cides with China’s “pre­scrip­tion” for the world at the re­cent G20 sum­mit. “I think in­no­va­tion and mak­ing bet­ter use of tech­nol­ogy is go­ing to be very help­ful. I’ve seen it in Africa,” said Haleh Bridi, direc­tor of ex­ter­nal com­mu­ni­ca­tions and part­ner­ships at the World Bank Africa re­gion, at the fo­rum tak­ing place on Wednes­day in China’s south­ern city Guangzhou. Mr Bridi said be­cause of in­no­va­tion, Africa has moved from be­ing a con­ti­nent where no­body has a phone to one where al­most ev­ery­body uses a cell phone.

“This tele­phone revo­lu­tion has re­ally changed the face of Africa, and this can hap­pen in so many other sec­tors, in­clud­ing in ed­u­ca­tion, as you can get the top notch ed­u­ca­tion on­line to­day,” Bridi said. To fa­cil­i­tate the growth of both China and Africa, the World Bank has been ac­tively en­gag­ing in form­ing part­ner­ships be­tween the two par­ties, and will con­tinue to use its con­ven­ing power to cre­ate a more open en­vi­ron­ment for both, Mr Bridi said. As the world econ­omy re­mains slug­gish, lead­ers world­wide are look­ing for ways to boost growth. At the re­cent G20 sum­mit, Chi­nese Pres­i­dent Xi Jin­ping gave China’s “pre­scrip­tion” for the world econ­omy. “We will con­tinue to re­in­force macrop­ol­icy di­a­logue and co-or­di­na­tion, work in the spirit of part­ner­ship to pro­mote mu­tual help and win-win co-op­er­a­tion, and fo­cus our minds and en­ergy to pur­sue strong, sus­tain­able, bal­anced and in­clu­sive growth,” Mr Xi said. Among the sug­ges­tions Mr Xi gave to world lead­ers, in­no­va­tion, open­ness, global eco­nomic gov­er­nance and in­clu­sive­ness are the key. To make eco­nomic glob­al­i­sa­tion more in­clu­sive, the Hangzhou sum­mit has put the is­sue of de­vel­op­ment front and cen­ter in the global macro pol­icy frame­work. The first ac­tion plan has been for­mu­lated for im­ple­ment­ing the 2030 Agenda for Sus­tain­able De­vel­op­ment. Co-op­er­a­tion is in place to sup­port Africa and the least devel­oped coun­tries in their in­dus­tri­al­i­sa­tion. Xin­hua

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