The 11th G20 summit, to be held on September 4-5 in China’s eastern city of Hangzhou, is expected to make an action plan on implementing the 2030 Agenda for Sustainable Development, and to focus more on development issues with an aim to inject new impetus into the world economy and promote global consensus on development.
Advertisement
Speaking on the G20 Summit in China, tagged: The Light at the End of Tunnel, Chinese Consul General in Lagos, Mr. Chao Xiaoliang, said that, the event is the first ever G20 Summit to be hosted in China.
The third focus at this year’s G20 summit will be on building an open world economy. China, the world’s largest developing country, is attaching unprecedented importance to development issues.
Fundamental consensus was also reached on a set of high-level principles in cross-border manhunt and the return of illicit assets in anti-graft cases among G20 members, a global trade growth strategy, and a guideline for global investment. If G20 countries can seize this opportunity and draw on China’s successful experience in economic governance to address their own problems, they are certain to boost confidence in the global economy.
In light of such ongoing persecution, China Aid president Bob Fu earlier this year accused the Communist regime of making a mockery of “basic justice” and urged the US leaders to use the upcoming G20 summit to urge Chinese leaders to release those imprisoned and end persecution against Christians across the country. Reliance on monetary policy to spur global growth is no longer a practical option.
Countries such as African Union chair Chad and Senegal, chair of the New Partnership for Africa’s Development, will attend the summit.
‘At the same time, the role that China can play in bringing together developing and developed countries is very important, ‘ says Ramon Pacheco Pardo, a senior lecturer on worldwide relations at King’s College London. Firstly, it gives priority to development for the first time in global macro policy framework; secondly, it offers the most seats to developing countries than ever before. It is obvious that although both South and North countries subsidise their farmers, the intentions are vastly different – as for the developing countries, the subsidy is to guarantee the farmers’ basic survival.
The G20 Hangzhou Summit is on track to yield more fruits than previous ones. With the support from various parties, China had already held ministerial meetings on trade, energy, employment and agriculture, and had extensive dialogues respectively with representatives from various circles such as industry and commerce, youth, women, labour, think-tanks, non-governmental and social organisations and others, laying important groundwork for the Hangzhou Summit.
China agreed at the G20 trade ministers meeting to eliminate tariffs on a range of EGA goods, making it possible to move forward with this agreement.
Advertisement
But the Hangzhou summit may not fulfill all designed goals.
