Zhu Guangyao, China’s vice finance minister, said at a press conference that the country looks forward to fruits both in bilateral cooperation and in policy coordination on multilateral occasions, including the upcoming G20 summit scheduled on September 4-5 in Hangzhou.
Advertisement
Diplomatic maneuvers between the 20 leaders are also something to watch for, according to the report, with special focus on Xi and U.S President Barack Obama’s bilateral meeting. Africa and other developing nations can not be put on the sidelines if global growth is to be put back on course, the African president said, adding that China candidly understands this and knows that the continent has to participate proactively in the global agenda.
In addition, the two leaders exchanged views on a number of the most pressing issues of regional and worldwide agenda. Xi’s somewhat fuzzy concept of a “new type of major state-to-state relations” with America has been a key feature of his foreign policy, but has gained little momentum in Washington due to questions over Beijing’s approach to the South China Sea and other issues. During the summit, China will host 66 events in more than 20 cities to attract participants from all walks of life.
“So they may carry forward their talks to the next meeting”, an official said.
When EU Commission President Jean-Claude Juncker and EU Council President Donald Tusk set out their priorities for the Hangzhou meeting this week, free trade was next to last.
China’s claim over nearly all of SCS is contested by the Philippines, Vietnam, Malaysia, Brunei and Taiwan.
“From where China sits, it looks like the Americans are trying to encircle them”, said a senior Western envoy, describing conversations with Chinese officials ahead of G20 as being dominated by the South China Sea row and an advanced US anti-missile system to be deployed in South Korea. Take China as an example, from 2008 to 2013, China contributed 37.6 percent of GDP growth of the world.
Xi will also be meeting new British Prime Minister May but again China is very upset about her government’s move to halt the United States dollars 24 billion Hinkley Point C nuclear power plant agreed to by her predecessor David Cameron. But speculation is rife that concerns over Chinese investments was at the heart of the reassessment.
With variances in geographical location, income level, political standpoint and economic and demographic structures, participants of the G20 Summit can share diverse ideas and opinions. According to a July forecast, the International Monetary Fund expects Russian Federation to go out of recession in 2017, reaching 1-percent growth of the gross domestic product (GDP).
Observers also say wariness over China’s rise, fuelled by its rejection of an worldwide tribunal ruling on its South China Sea claims, could thwart its agenda at the summit.
“When Obama came in, he made a big a difference, he had new ideas, and he wanted to show at home and internationally that the US can drive the economic recovery”, said Paola Subacchi, International Economics research director at foreign affairs think tank Chatham House.
These efforts are believed to be a good beginning for the upcoming summit, he said.
Advertisement
Members of the G20 includes the UK, France, Germany, Italy, Turkey, Russia and the EU.
