Way forward

The global recovery has been weaker than expected and has faced a series of challenges and increasing downside risks, said the communiqué released after the G20 Finance Ministers and Central Bank Governors Meeting in July. Weighed down by the economic downturn and lower commodity prices, economic growth continues to slow in Sub-saharan Africa. It is therefore urgent to push forward economic restructuring, and promote infrastructure modernization, trade and industrialization on the continent.

Protectionism would inhibit the dynamism of the world economy, and ultimately harm the interests of all parties. The G20 thus firmly opposes protectionism in all its forms and firmly upholds the dominant role of a multilateral trading system. Founded in the wake of the financial crisis, the G20 has been growing in the process of tackling new problems and challenges. Therefore, challenges facing the global economy should not become an obstacle to building an open economy.

China spares no efforts to put development issues for Africa on the agenda, so as to help the continent gain a greater say in global economic governance. This will both enhance the inclusivity and legitimacy of the G20 as a mechanism of global governance in international affairs and further make the continent a new impetus to world economic growth.

(The author is a research assistant, Institute of West Asian and African Studies at Chinese Academy of Social Sciences)