Xi in strong sup­port of world trade at G20

The Star Early Edition - - INTERNATIONAL - China has great ex­pec­ta­tions for the Ham­burg sum­mit

CHI­NESE Pres­i­dent Xi Jin­ping said his coun­try hopes that the Group of 20 (G20) ma­jor economies will con­tinue to cham­pion the build­ing of an open world econ­omy.

Xi made the ap­peal in a signed ar­ti­cle pub­lished yes­ter­day on main­stream Ger­man me­dia be­fore he trav­els to the coun­try for a state visit and the up­com­ing G20 Ham­burg sum­mit.

Re­call­ing the achieve­ments of last year’s G20 sum­mit in Hangzhou, China, Xi said the world econ­omy still faces daunt­ing chal­lenges de­spite “fur­ther con­sol­i­da­tion of growth mo­men­tum and the up­beat eco­nomic out­look in both the de­vel­oped and emerg­ing economies.”

He urged the group, the premier fo­rum for in­ter­na­tional eco­nomic co-op­er­a­tion, to con­tinue “to fol­low through on the con­sen­sus reached at Hangzhou and all its pre­vi­ous sum­mits and lead the way for­ward for the world econ­omy.”

“This serves the in­ter­est of all par­ties,” he said in the piece, ti­tled and sup­ports Ger­many in host­ing a suc­cess­ful meet­ing, he added.

In the signed ar­ti­cle, the Chi­nese leader laid out his ex­pec­ta­tions for the G20 sum­mit, a group that gath­ers the world’s largest de­vel­oped economies and lead­ing emerg­ing economies.

“The G20 needs to stay com­mit­ted to open de­vel­op­ment, sup­port the mul­ti­lat­eral trad­ing regime with the WTO at its heart, and en­able trade and in­vest­ment to con­tinue to drive global eco­nomic growth,” he said.

He stressed the need to up­hold the spirit of part­ner­ship for win-win co-op­er­a­tion, which he said is G20’s most crit­i­cal as­set.

Xi also high­lighted in­no­va­tive growth and long-term gov­er­nance.

“To ce­ment the growth mo­men­tum of the world econ­omy, coun­tries need to tap into new driv­ers of global growth through in­no­va­tion, con­duct fis­cal and mon­e­tary poli­cies and struc­tural re­forms in a co­or­di­nated man­ner, and pro­mote strong, sus­tain­able, bal­anced and in­clu­sive growth of the world econ­omy.” – Xin­hua

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