The G20 Summit is expected to boost open world economy

China Plus Published: 2018-11-29 19:54:35
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This week's G20 summit in Argentina will be an opportunity for China to play a more constructive role in pushing forward the opening of the world economy.

That's the view of a renowned Argentine scholar who had been observing China's growing role in international affairs.

Founded in the late 1990s, the G20 Group consists of the European Union and 19 developed and developing countries. The mechanism of the G20 summit, which was established during the international financial crisis in 2008, has become an important platform for global economic cooperation.

Gustavo Girado is a well-known China expert in Argentina. He said that the work at the G20 Summit should further improve the global governance system, and tackle some of the economic and political uncertainties in the world.

A picture shows Gustavo Girado accepting China Radio International's interview. [Photo:CRI]

A picture shows Gustavo Girado accepting China Radio International's interview. [Photo:CRI]

"Some member states of the G20 Group are running counter to the group's principles and proposals. Their support of unilateralism and trade protectionism has seriously undermined the principles of multilateralism and free trade that most of the member states adhere to, such as China. This hinders the construction of the global governance system. So each member state should implement policies that maintain market stability."

Girado said that as the world's second-largest economy, China had played a leading role in international affairs, including in the G20 Group. He said that China's solutions for global economic governance, as proposed by President Xi Jinping at the G20's Hangzhou Summit in 2016, are very practical and have promoted the building of a more open world economy.

"China has been striving to boost the global economy. The first China International Import Expo, which recently ended in Shanghai, has shown China's efforts to promote healthy and balanced global trade. On the other hand, the Belt and Road Initiative proposed by China has benefited China's neighbors, as well as countries in Europe, Africa, and Latin America. The China-CELAC forum held in January this year has further promoted the Belt and Road Initiative in Latin America. More and more Latin American countries are actively engaged."

At this week's G20 summit, a consensus is expected to be reached among some of the world's major trading partners on resolving the current deadlocks facing the global trading system.

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