“China will be less likely to talk about governance in worldwide institutions where voices of developing emerging economies are not well represented”, said Associate Professor and Co-Director of the Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy Tan Khee Giap, referring to China’s preference for engagement at platforms like the G20.
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China and United States made joint announcement on ratification of Paris climate change agreement.
Chinese state media, Xinhua news agency: “For the world’s major developed economies, they should curb rising protectionism and dismantle anti-trade measures as economic isolationism is not a solution to sluggish growth”.
“Eight years ago … the G20 pulled the world’s economy away from a cliff to the track of stability and recovery”.
The G20 group agreed at their summit in China that refugees are a global issue and the burden must be shared, the leaders declared in a joint communique Monday.
“In 2018, we will have the honour of hosting the G20”, he added.
As the G20 presidency country, China has proposed its solution and wisdom for global economic growth. He said the trade bloc will look at Beijing’s response when deciding whether to grant China market economy status, which would make it harder to bring anti-dumping cases.
In a communique issued several hours after the close of the summit, the G20 leaders warned that global growth was weaker than anticipated, with downside risks continuing, and repeated the acknowledgement that monetary policy alone could not create balanced growth. But it remains uncertain how effective the new framework would be in resolving the problem.
“But actions speak louder than words and the ball is in China’s court to implement its own needed domestic reforms and to provide greater market access for foreign goods, services and technology”.
One of the few areas where there was progress was in protecting the environment.
American President Barack Obama said on Monday that there are still “differences between his country and Russian regarding Syria”, stressing that a ceasefire would facilitate fighting terrorism including Daesh and Al-Nusra Front, AlKhaleejOnline.com reported. There are various anti-dumping suits now pending against the country while the United States has already hiked import duties on Chinese steel products by up to 500%.
“I have noted that some U.S. media have been making an issue out of the small episode between the staff of the two sides when President Obama arrived at the Hangzhou airport, and they made flimsy connections based on speculation”, Chinese foreign ministry spokesperson Hua Chunying said on Monday.
“We have, despite resistance from some countries, secured some language on the importance of doing that”, the official said. Russian Federation has repeatedly denied the U.S. hacking allegations, with Putin Internet advisor German Klimenko saying in June that “it’s easier to explain such things as intrigues of enemies than with one’s own incompetence”.
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“China has given the prescription that the world economies should not form small interest groups, but should use the G20 as a common governance platform to step toward a community of common destiny”, said Wei Jianguo, vice-president of the China Center for International Economic Exchanges.
