Policy gurus gather to seek world solutions
behind the establishment of a new global relationship, and all-round innovation should provide the necessary fuel to achieve development goals.
She also pointed out that the Belt and Road Initiative advanced by China will drive new and successful global and regional relationships.
Cai Fang, vice-president of CASS, used his keynote speech to outline three major global governance issues facing the international community.
The current potential for economic growth is limited, which indicates structural reform is urgently required, Cai said.
“Meanwhile, the international community’s capacity to cope with financial turbulence should also be improved.”
He cited multiple challenges including climate change, imbalanced global development, the need for poverty alleviation and sustainable development in the implementation of the 2030 Agenda for Sustainable Development,.
To help provide policymaking insights to the G20 on these global issues, the three Chinese think tanks organizing the T20 issued questionnaires to think tank experts worldwide.
Based on their consensus, the T20 has formulated a policy recommendation to the G20, involving several aspects of global importance, including the global economic governance mechanism, innovation and structural reform as well as international finance, trade and investment.
T20 Summit participants affirmed that the T20 is an invaluable source of information and support for G20.
Bozkurt Aran, director of the TEPAV Center for Multilateral Trade Studies in Turkey, described the T20 as “a bank of ideas in the discussion of global governance”.
This year’s T20 Summit is organized by three major Chinese think tanks — the Institute of World Economics and Politics at CASS, the Shanghai Institutes for International Studies and the Chongyang Institute for Financial Studies at Renmin University of China.