Many overseas experts and scholars have praised Chinese President Xi Jinping’s speech delivered Friday at the 12th Summit of the Group of 20 (G20) major economies in Hamburg, a major port city in northern Germany.
Addressing the annual summit of world leaders, Xi called on members of the G20 to champion an open world economy and a multilateral trade regime as global growth remains unsteady despite signs of recovery.
Xi also called for concerted efforts in fostering new drivers for growth, promoting a more inclusive growth and improving global economic governance.
This year’s G20 summit, scheduled for Friday and Saturday and themed “Shaping an Interconnected World,” comes as global growth continues to gather momentum and both developed countries and emerging-market economies show stronger economic performance despite uncertainties and destabilizing factors.
“We should and must lead the way, support the multilateral trading system, observe the jointly established rules and, through consultation, seek all-win solutions to common challenges we face,” Xi said.
Gu Xuewu, director of the Center for Global studies at Bonn University, said the speech showed Xi’s firm determination to promote globalization.
Xi’s emphasis on working together toward inclusive growth is in fact an invitation for those who think they are “losers of globalization” to join the discussion and exploration of a new path for achieving globalization, Gu said.
Also, as Xi put it, “commitment of the Belt and Road Forum is highly compatible with the goal of the G20,” which indicated the Chinese government sees the Belt and Road Initiative as part of “new and inclusive globalization” and is ready to include Eurasian people who have not fully reaped the benefits of globalization in global production activities by building land and maritime connectivity mechanisms, Gu said.
Proposed by Xi in 2013, the Belt and Road Initiative, comprising the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aims to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient trade routes.
Italian geopolitics expert Fabrizio Franciosi said Xi’s speech reflects China’s commitment to the integral development of all mankind and the aspiration of a vast majority of countries for world peace and prosperity.
Xi advocates building an open world economy, is committed to the path of openness and mutual benefit and supports a multilateral trading system, said Franciosi, adding “this serves the common interests of the international community.”
Xi’s suggestions map out a model for future global governance and are worth putting into practice by G20 members and the broader global community, he said.
Xi’s speech at the summit allows people to understand the direction that China and the G20 members need to work toward, namely to adjust the imbalances and strive for equality, said Professor Hwang Jaeho, dean of the division of international studies at Hankuk University of Foreign Studies and director of the Global Security Cooperation Center.
“I was very impressed by China’s effort to maintain a free and open economic order, in particular China’s contributions to global economic growth and sustainable development when trade protectionism is picking up,” Hwang said.
“What President Xi has proposed, I think, is a new type of global economic relations and China has made it to the implementation stage of the new global economic relations as a responsible major country,” he added.
As the United States is now trapped in isolationism and has adopted a closed-door policy, China has been unswervingly holding the banner of free trade, providing relief to other major economies in the world, said Oh Ei Sun, a senior fellow with S. Rajaratnam School of International Studies at Singapore’s Nanyang Technological University.
Xi noted that innovation, more than anything else, is a new source of growth, Oh said, adding that China’s attempts in this regard are a bid to bring more benefits of economic development to the people.
“The Chinese model (of growth) offers an inspiration for economic development of all countries,” Oh said.