Inclusiveness consolidates foundation for world economic growth

 President Donald Trump, left, meets with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan, Saturday, June 29, 2019. (AP Photo/Susan Walsh)/2019-06-29 12:20:47/

President Donald Trump, left, meets with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan, Saturday, June 29, 2019. (AP Photo/Susan Walsh)/2019-06-29 12:20:47/

Development imbalance is the greatest imbalance confronting today’s world. Chinese President Xi Jinping noted at the G20 Hangzhou Summit that the world economic recovery remains weak, weighed down by insufficient drivers of growth and negative impact of regional and international hot-spots and global challenges.

 

That’s why the summit actively advocated inclusive and interconnected development. It marked the mechanism’s first time to place development issues at the core of the global macro-policy framework, the first time to map out action plans for the implementation of the 2030 Agenda for Sustainable Development, and the first time to carry our cooperation to support the industrialization of African countries and the least developed countries. As a result, the 2016 Hangzhou summit was participated by the most developing countries, demonstrated the most distinct development characteristics, and achieved the most fruitful results in the history of G20.

 

Then Secretary-General of the United Nations Ban Ki-moon praised China’s efforts, saying that the country steered the debate to facilitate the G20 to move from short-term financial crisis management to a long-term development perspective. Only by narrowing development gap and sharing development outcomes with more countries and peoples can world economy maintain continuous driving forces for development. The Teles Pires II Transmission Project undertaken by China’s State Grid has been put into operation in Brazil this year. The project is generating electricity for eight million people in the local community.

 

During construction, the Chinese enterprise attached high importance to local infrastructure and environmental protection, planting trees in more than 200 hectares of land and repairing more than 200 bridges and over two thousand kilometers of road. Paula Wróbel, professor of international relations at the Brazil’s Pontifical Catholic University of Rio de Janeiro, told People’s Daily that with its extension to Latin America, the Belt and Road Initiative (BRI) has improved local people’s livelihood, created massive jobs and injected vitality into the Latin American economy with advanced technology and successful experiences introduced from China.

 

The BRI is prospering in the Eurasia, Africa, America and Oceania. It has opened up a new path for the open, inclusive and sustainable development of the global economy and provided opportunities for more countries to participate in international cooperation and share the benefits of economic globalization. A research report recently released by the World Bank Group indicates that the initiative, if implemented fully, could lift 32 million people out of moderate poverty – those who live on less than $3.20 a day. It could boost global trade by up to 6.2 percent, and up to 9.7 percent for corridor economies, and global income could increase by as much 2.9 percent, the analysis found.

 

China has been making unremitting efforts to strengthen global cooperation in sustainable development, and promoting the BRI with a view to realizing the 2030 Agenda for Sustainable Development. Meanwhile, China has promised to share the latest scientific research results including the 5G technology with all countries and implement the Paris Agreement in combating climate change. The world becomes greener compared with twenty years ago, according to satellite data from NASA, and China is one of the major contributors to the increasing man-made green lands. China is conducting dialogues more extensively and inclusively, and working hard to implement the 2030 Agenda for Sustainable Development and promote G20 to solve global issues with a more systematic perspective, said Luiz Melin, former deputy finance minister of Brazil.

 

Based on his experience of participating in the G20 ministerial meetings, Melin noted that China is aiming to build a development-oriented partnership in the global context to boost global economic and social development. The win-win cooperation advocated by China coincides with the G20 spirit of partnership, said Anil Dhaba, an international relations professor at the University of Delhi, India. China calls for all members to step up communication and negotiation on major global issues so as to promote the in-depth exchanges between people from different countries and diverse cultural backgrounds, which is quite different from some countries that put their interests first and engage in beggar-thy-neighbor practice, Anil added.

 

(People’s Daily)

 

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