As the Hamburg G20 Summit comes to a close, here is a summary of the key contributions from China. The official word, according to Foreign Minister Wang Yi, is that President Xi Jinping “made a positive contribution to world economic growth and improving global economic governance.” The reality is just a little more banal, though no less grandiloquently presented.
1. BRICS
In an informal meeting with leaders from the emerging-market bloc, Xi urged the BRICS countries to “unswervingly promote the building of an open world economy.” The southeastern Chinese city of Xiamen will be hosting the BRICS summit is set to be held in September this year.
2. Innovation and development
Xi stressed the need to find new sources of global economic growth, stating that innovation and the promotion of development will be key steps forward. State news agency Xinhua reports Xi’s emphasis on “openness, cooperation, all-win results, joint consultation, joint construction and sharing advocated in the Belt and Road Initiative.”
3. Russia and China
Xi reportedly described China’s relationship with Russia as the “best ever in history” and proposed building stronger bilateral ties to boost global peace and stability. Foreign Minister Wang Yi also added that the two countries were working on deepening their comprehensive strategic partnership on the basis of non-alliance, non-confrontation, and without targeting third countries.
4. A digital economy and the new industrial revolution
Xi proposed international cooperation in the growth of the digital economy and the new industrial revolution with Dennis Snower, president of Germany’s Kiel Institute for the World Economy, stating that these proposals are “of great importance.”
5. Germany and China
Merkel and Xi agreed to step up cooperation in the Belt and Road initiative, with Xi describing China’s relations with Germany as a “story of success.” Xi also addressed the EU, stating he supports the region to be “united, stable, prosperous and open.”
6. Global economic governance
Xi reportedly emphasised the need to improve global economic governance by strengthening policy coordination between G20 members.
7. US and China
After the initial success of their 100-day plan laid out in April, Xi and Trump discussed the possibility of a one-year cooperation plan. According to the BBC, the two world leaders discussed plans to tackle North Korea’s nuclear situation. State news agency Xinhua said the China US relationship had made “progress…despite some sensitive issues.”
Cover Image from Xinhua via China Daily
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