G20 Summit International People Message: Reinvigorating the World Economy Reflects Responsibility

In 2016, China assumed the rotating presidency of the G20. This is the first non-Western power to host the world's most important international cooperation forum, which has a milestone significance. The Hangzhou Summit will discuss important economic and social issues facing the world today and ensure that it is moving towards the goal of “building an innovative, dynamic, coordinated and inclusive world economy”. The outcome of the conference's consultations will help stimulate a slow-growing global economy; promote global trade and investment, improve global economic and financial governance, and make progress on the energy and climate change issues we face together. In addition to these specific and expected results, the biggest achievement of the Hangzhou Summit includes the transmission of the message that constructive dialogue and cooperation between countries is the best way to address global challenges.

Canevati Wu Yandeli, Director of the Regional Resource Research Center of the National Academy of Sciences of Indonesia:

Significant changes have taken place at the G20 summit to discuss major issues in the world economy. The topics discussed in the G20 are not only limited to the financial and monetary fields, but also address development issues such as inequality and poverty. Poverty and inequality remain the serious challenges facing the contemporary era. Inequality seriously undermines economic growth and limits individuals’ opportunities to escape poverty, which in turn leads to political instability and has become one of the root causes of terrorism. China's full use of the opportunity to serve as the G20 presidency shows a strong will to build a more coordinated and inclusive society to stimulate global economic growth. The theme of the summit has made countries around the world see new hopes.

As the world's second largest economy, China will play a leading role in solving global development problems. Through the G20 Hangzhou Summit, China is committed to achieving a coordinated and inclusive world economy and promoting poor countries to benefit from the growth of the global economy. China can share its successful experience in poverty reduction. People have every reason to hope that China, as the chairman of the G20 summit, can turn the dream of common development into reality.

Professor Di Bojie, Professor of China and Southeast Asia Research Center, University of Nehru, India:

From 2011 to 2015, China's contribution to global economic growth has exceeded 25%, making it a veritable engine for the global economy. At present, China is deepening its reforms in an all-round way, which adds more new impetus, stability and sustainability to China's economic growth. China has vigorously promoted supply-side reforms and proposed the “Belt and Road Initiative”. These reforms and initiatives have distinct Chinese characteristics and are one of the main driving forces for furthering global economic growth. Benefiting from the tremendous achievements in reform, China is currently forming a new wave of international capacity transfer in the world. Many labor-intensive industries are heading for the world, especially developing countries and emerging market countries, which have set off a wave of Chinese investment in these countries.

Undoubtedly, Chinese investment is driven by capacity building, large-scale investment and technology transfer in countries around the world, which has changed the global investment landscape. These all reflect the connotation of China's "promoting international trade and investment" and "promoting inclusive and linkage development" proposed at the G20 Hangzhou Summit.

Franco Bruni, Deputy Director of the Italian Institute of International Politics:

The international political situation before the G20 summit was extremely difficult. The events such as Brexit seemed to make "split" better than "cooperation". However, I believe that in the economic field, "cooperation" is still the mainstream, and countries are still striving to achieve their own economic growth or recovery through cooperation. China’s goal of "building an innovative, dynamic, coordinated and inclusive world economy" is positive. As countries around the world are looking forward to, infrastructure investment should be seen as an important topic for future world economic cooperation. There is a large demand for infrastructure investment in Europe. In the case of poor performance of infrastructure investment in the United States, China, as a global infrastructure investment leader, can share its achievements in this field through this summit.

Economic cooperation requires strong political guarantees. It is hoped that leaders will be able to explore countermeasures at the summit, dispel differences, and allow the globalization process to sail again with the improvement of the political situation.

Michael Wendrose, Professor of Economics, IE Business School, Madrid, Spain:

The current world economic growth is slow and fragile, and what is even more worrying is that trade protectionism is on the rise. China's many efforts to host the G20 Hangzhou Summit are worthy of admiration. In this critical period of global economic development, the world needs stability and consensus. I hope that the Hangzhou Summit will be able to go upstream and guide the world's major economies to reach a consensus on future cooperation, and work together to promote global trade growth and establish a more open and transparent trade system. China has a deep understanding and experience of the challenges facing developing countries. Therefore, China can play an irreplaceable role in reaching consensus among countries. China has also proposed new ideas for the G20 to continue to promote global economic growth and future cooperation between G20 members, which reflects China's active participation and leadership in global economic governance.

Selcuk, Vice President of the Turkish International Strategic Research Organization:

China has invaluable experience in getting rid of poverty. South-South cooperation has important potential for opening up trade and investment to the least developed countries, and through trade and investment, it can change the development patterns that LDCs traditionally rely on for grants, loans and aid, and instead inject momentum into sustainable development. Emerging market countries are naturally “Southern” and their development banks are already investing in infrastructure construction in Asia and Africa. China is one of the most important representatives, and the Export-Import Bank has been investing in numerous infrastructure projects in Africa. The newly established AIIB will expand China's contribution in this field in the future. Through well-designed financing options, China has increased direct investment in the South and promoted trade flows between South and South countries. China has provided valuable experience to the world in promoting inclusive growth and innovative social policies. The G20 Hangzhou Summit will be a good opportunity to understand China's global governance philosophy and role.

Kim Min-min, Principal Investigator, Fujitsu Research Institute of Economics, Japan:

In recent years, in the face of the weak world economic growth, the weakening effect of traditional stimulus economic policies, and the obstacles to economic recovery, countries are seeking policies and ways to promote strong, sustainable and balanced growth of the economy. At the same time, the world faces structural problems such as a decline in productivity growth, a widening income gap, and increased employment pressure. Trade and investment protectionism and technological nationalism are on the rise, and globalization faces a risk of retrogression.

China's right medicine, for the G20 Hangzhou Summit, put forward the "innovative growth mode", "more efficient global economic and financial governance", "strong international trade and investment", "inclusive and linkage development". This “Chinese prescription” avoids economic policies that focus only on stimulating short-term economic growth, and focuses on medium- and long-term policy topics such as innovation and structural reforms. It also combines China’s domestic implementation of innovation-driven strategies, supply-side structural reforms, and the construction of an open economy. Practices such as the new system. If the G20 summit can form a specific consensus, its "effect" is worth looking forward to.

Gaya Josie, Director of the BRICS Research Center, South African Institute of Humanities:

The G20 Hangzhou Summit will provide opportunities for building innovative and linked world economic growth. In July of this year, the G20 think tank meeting (T20) was held in Beijing. The participating experts expressed the expectation that China will continue to promote healthy and strong economic growth and continue to make an indispensable contribution to global economic growth. China's emphasis on multilateral mechanisms can allow the G20 to refocus on current problems and risks in global financial and economic governance and enhance the voice of developing countries and emerging market countries. The G20 Trade Ministers Conference highlighted downside risks and the vulnerability of developing and emerging market countries, calling for trade and investment, increasing employment and encouraging innovation, addressing poverty and inequality, and achieving inclusive growth.

Atul Rami, Director General of Economic Activities of the Ministry of Economic Affairs of Portugal:

The G20 Hangzhou Summit will help to gain an in-depth understanding of China's extremely important role in world economic growth. China's current economic growth rate, even if only about 6%, is rare in the history of the world economy. What is more noteworthy is that China has demonstrated outstanding leadership in promoting economic transformation. The Chinese economy is shifting to a service-oriented economy, and domestic consumption will play a more important role, which will further increase the welfare of the people. China has grown from a poor and backward economy to one of the world's largest and richest economies in just a few decades. This is an unprecedented achievement in human history. The Chinese government is pursuing an ambitious environmental governance plan that will allow China to embark on a new path of industrial development, which will also improve people's living conditions and improve the health of the people. This policy can also bring a lot of investment to promote economic growth. China’s economic growth is not closed, but open to the world.

Victor Prudence, Professor of the University of Ibero-American, Mexico:

There are many problems facing the G20, and the challenges are not small. I believe that China has the ability to promote some global agendas and promote the development of the world economy and other fields. As the world's second largest economy, China has played an important role in the world economy. Beginning in October this year, the RMB will officially join the Special Drawing Rights (SDR), which is one of the world's important currencies and appears in front of the world. The degree of liberalization of the Chinese currency will be higher, it will be more acceptable to other countries, and it will become one of the foreign exchange reserve currencies of other countries. Its importance is self-evident. For China, its influence will also be significantly improved due to the internationalization of the RMB and the “One Belt, One Road” construction and other plans to contact Europe and Asia. In addition, the renminbi as the currency of emerging market countries has become an international currency. While enhancing the international status of emerging market countries, it has also provided an example to other emerging market countries.

Hamid Rashid, Director of the Global Economic Monitoring Center of the United Nations Department of Economic and Social Affairs:

Innovation is a key driver of long-term economic growth. Since the international financial crisis, global productivity-driven productivity growth has slowed significantly. The UN's 2016 World Economic Situation and Prospects report shows that governments and the private sector need to reinvigorate innovation and productivity growth and return the world economy to a path of strong growth. Therefore, the “innovative growth mode” will be a very important focus of the G20 Hangzhou Summit. The G20 Summit is the highest level of global economic decision-making, and we can reasonably expect world leaders to focus on revitalizing global economic growth. As the world's second largest economy and the world's largest developing country, China has been the engine of global economic growth since the international financial crisis. It is heartening that China has successfully rebalanced the economy through a series of structural reform measures and gradually shifted from export orientation to boosting domestic demand. Many countries, especially developing countries, are ready to learn from China's slow economic transformation experience. In recent years, China has also made significant progress in reducing its carbon footprint growth, becoming one of the largest investors in renewable energy and green growth.

China is a very important voice of developing countries in global governance. The Group of 77 and China have played a crucial role in protecting and promoting the interests of developing countries. China has always shown strong leadership on the UN and other platforms, and has played a major role in resolving consensus on many key issues. The International Monetary Fund’s decision to include the renminbi in the organization’s monetary plan last year is an acknowledgement of China’s growing importance in participating in global economic governance. More importantly, the AIIB and the “Belt and Road Initiative” not only reflect China's leadership, but also demonstrate China's commitment to promote investment and promote inclusive growth and sustainable development worldwide.

South Korea’s former president of the World Economic Research Institute and former South Korean Finance Minister Si Kongyi:

At a time when anti-globalization and trade protectionism are intensifying and international economic policy cooperation is weakening, the convening of the G20 Hangzhou Summit is crucial to formulating corresponding policies on these three issues. It is expected that the G20 Hangzhou Summit will conduct close international cooperation on issues such as suppression of trade protectionism and reach an agreement. As the world's second largest economy, China played an important role in the recovery of the world economy after the 2008 international financial crisis. South Korea and China are the biggest beneficiaries under the world economic order and global governance system formed after World War II. It is expected that China will play an important role in the process of participating in global governance.

Agris Premanis, Chief Economist, Central Asia, European Bank for Reconstruction and Development:

Against the background of low economic growth rates and increased uncertainty, countries around the world are looking to develop economic models that are more innovative, more resilient and sustainable. The G20 Hangzhou Summit is an excellent opportunity to achieve this goal. In the goal of the Hangzhou Summit, I am very interested in “developing a blueprint for innovative growth”. China has grown into the world's second largest economy and plays a key role in leading the world's economic growth. Chinese and Chinese companies will play an important role in providing innovative economic growth models for the world, especially developing countries. Take the “One Belt, One Road” initiative that China is vigorously promoting as an example. While investing in infrastructure, communications, energy, etc. in countries and regions along the “Belt and Road”, China can also help countries develop innovative economies with their own experience. Bringing a win-win result will also drive China's innovative economic development and investment efficiency.