Xinhua News Agency, Bali, Indonesia, November 13.(International Observation) Building Consensus and Strengthening Coordination – The World Expects the G20 Bali Summit to Bring Confidence to Economic Recovery
Xinhua News Agency reporter Hao Yalin Yu Qianliang
The seventeenth summit of the G20 leaders will be held in Bali, Indonesia from November 15 to 16. The international community expects the summit to build consensus, promote major economies to strengthen macroeconomic policy coordination, and express the voice of adhering to multilateralism, openness and inclusiveness, and mutually beneficial cooperation, so as to inject confidence into the recovery of the global economy and the international community to jointly address global challenges; The G20 will continue to play an active role and contribute wisdom and strength to solving the dilemma of global development and promoting the open, inclusive, balanced and inclusive development of the world economy.
Focus on common challenges
At present, the new crown epidemic has been delayed and repeated, the global economic recovery is fragile and tortuous, the world has entered a new period of turbulence and change, and risk crises are emerging one after another. As an important platform for responding to global crises and reforming and improving global economic governance, the G20 has attracted much attention for its role.
The theme of the Bali Summit is “Common Recovery, Strong Recovery”, with global health infrastructure, digital transformation and sustainable energy transformation as the three priority topics. In terms of global health infrastructure, relevant sessions will discuss the response to the new crown epidemic and the transformation of global health infrastructure to promote the resilience of global health systems, making them more inclusive, equitable and crisis-response. In terms of digital transformation, relevant sessions will discuss important issues in the digital and economic fields, focusing on creating a more inclusive digital transformation environment for the world. In terms of sustainable energy transition, relevant sessions will address issues such as ensuring energy availability, enhancing smart and clean energy technologies, and promoting energy financing.
Bambang Suryono, chairman of the Asian Innovation Research Center, an Indonesian think tank, said that the digital economy, as a new driving force for world economic growth, has become very critical.
Peter Drysdale, director of the Institute of East Asian Economics at the Australian National University, pointed out that climate change is a topic of common concern to the international community, and it is also an issue on which major G20 members are expected to achieve important progress. It is important to make significant progress on such critical issues.
“These issues are common challenges faced by the international community, which cannot be tackled by one country alone, and their impact is not limited to a single country or region. This year’s summit needs to come up with a global solution to these problems. It should be multilateral and collective, rather than prioritizing the interests of a single country,” said De Boger, a professor at Nehru University in India.
Cooperation situation is urgent
This is August 31, 2022. Staff members work on the production line of the new crown vaccine at the Butantan Institute in Sao Paulo, Brazil. Published by Xinhua News Agency (Photo courtesy of the Butantan Institute, Brazil)
At present, the world economy is suffering from multiple shocks, and many countries are facing rising inflationary pressures. Some advanced economies have aggressively raised interest rates in order to solve their own inflation problems. The spillover effect has affected global financial stability and put emerging markets and developing countries under enormous pressure.
The International Monetary Fund (IMF) released a report in October predicting that the global economic growth rate will further slow to 2.7% in 2023, down 0.2 percentage points from the July forecast.
“The international community needs cooperation more than ever, and this is what we want the G20 to do. Leaders need to engage in discussions on issues constructively and come up with positive solutions,” Drysdale said.
Indonesian Foreign Minister Retno Retno said when attending the general debate of this year’s UN General Assembly that the whole world hopes that the G20 will become a catalyst for the recovery of the global economy, especially the economic recovery of developing countries. The global economic recovery cannot be left at the mercy of geopolitics.
Suryono said that the new crown epidemic has hit the world economy, developing economies have suffered greater losses and trauma than developed economies, and the recovery momentum is weaker, and the growth gap between the two is widening.
Wang Wen, executive dean of the Chongyang Institute for Financial Studies at Renmin University of China, said that starting this year, Indonesia, India and Brazil will successively serve as rotating chairmen of the G20. Since the rotating chairman has the dominant power in the design of the topics of the summit that year, such an arrangement means that the reform of international financial institutions, poverty reduction, infrastructure construction, digital upgrading and other topics that emerging countries are concerned about are expected to be given higher priority, and the agenda of global governance is expected to be higher. Settings will also be more coherent.
China is highly anticipated
In the southern Italian seaport of Taranto, Chinese and Italian construction workers hoist wind turbine blades (photo taken on January 27). Published by Xinhua News Agency (Photo by Paula Sarappa)
As the world‘s second largest economy and the largest developing country, China has been promoting the G20 to play a leading role in addressing global challenges and improving global economic governance, and supporting the enhancement of the representation and representation of emerging market and developing countries in global affairs. say. Facing the current complex and sensitive global situation, the international community is especially looking forward to the Chinese voice and Chinese plan at this summit.
De Bojie said that China has done a lot to deal with the new crown epidemic, not only strengthening its own capacity building, but also helping other developing countries overcome the difficulties of insufficient capacity and strengthening the construction of health infrastructure needed to deal with the new crown epidemic. It is expected that China will continue to promote the construction of a global health system at this summit.
Kiyoyuki Seguchi, research director of the Canon Institute for Global Strategy in Japan, said that China adheres to the correct path of economic globalization. China is committed to working with other countries to jointly create an international environment conducive to development and inject new impetus into world economic growth.
Drysdale said that China firmly supports multilateralism and supports the reform of the world trade system together with other countries. China is crucial to uniting G20 countries to tackle global challenges. (Participating reporters: Jiang Lei, Bai Xu, Tu Yifan, Zheng Shibo)
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责编：王宏泽 ]