Interconnection generates synergies for world economy
People’s
Daily
How to
further build an interconnected world economy has become a common task facing
the international community when unilateralism and protectionism are seriously impacting
the international economic order and markedly adding risks and uncertainties to
the world economy.
The G20 is
a premium forum for international economic cooperation. It represents two thirds
of the world's population, about 90 percent to the world’s GDP and nearly 80
percent of the global trade volume.
China claims
that G20 members, which are big in size,
should shoulder greater responsibility for world economic growth and make a
difference.
The 2016
Hangzhou summit is generally commended as the most fruitful summit in the history
of G20, during which the G20 Leaders’ Communique and 28 specific outcome
documents were issued and the “Hangzhou Consensus” aiming to promote the robust,
sustainable, balanced and inclusive growth of world economy was reached.
One year
later, the Hamburg summit, which stressed shaping an interconnected world,
continued in the same vein with the Hangzhou summit.
In 2018,
the
Buenos Aires summit, under the theme of Building Consensus for Fair and
Sustainable Development, prioritized development in global macro-policy
coordination, showed support to the connectivity of infrastructure and helped
developing countries realize sustainable development, which echoed the Hangzhou
Consensus.
Promoting
interconnected development and global cooperation demonstrates China’s ambition of achieving win-win development
and building a community with shared future for mankind.
During the
Hangzhou summit, the G20 Initiative on Supporting Industrialization in Africa
and Least Developed Countries and the Global Infrastructure Connectivity Alliance Initiative were proposed to support
industrialization with action plans and deepen cooperation in food security and
inclusive business.
China holds
that all sides should enhance policy coordination for sustainable
development, establish a global partnership for interconnectivity, and develop
high-quality infrastructure so as to drive the economy of all countries.
These
action plans and pragmatic results will relieve the issues of unfair and
unbalanced global development, and bring tangible benefits to the people in
developing countries. Besides, they will help realize the United Nations
Sustainable Development Goals and make contribution to the common prosperity of
human beings.
Interconnectivity
plays a fundamental role in world economic development, said Piet Steel, Chairman
of the EU-Asia Centre.
The joint
construction of the Belt and Road Initiative is a vivid example of interconnected
development and has been well-received by the international community, he
added.
The
second Belt and Road Forum for International Cooperation made a series of
achievements regarding the cooperation between China and other countries along
the route. During the Forum, a customs information exchanges and sharing
platform was launched and member institutions under the Belt and Road Regular Inter-bank
Cooperation Mechanism agreed to deepen financial cooperation. Such achievements
have contributed to the international macroeconomic policy
coordination and common prosperity.
Oleg
Timofeev, an associate professor of China studies at the Peoples' Friendship
University of Russia, said that all countries are able to deal with the
increasing challenges as long as they interconnect with each other. Chinese
President Xi Jinping’s proposal of building an interconnected world economy will
make the international order more just and equitable, he
added.
Interconnection generates synergies for world economy
Reviewed by PEOPLES MAIL
on
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