G20 summit upholds multilateralism, opposes protectionism

BEIJING, July 1, 2019 /PRNewswire/ -- A news report by China.org.cn on 2019 G20 Osaka Summit and the meeting between the Chinese and U.S. state leaders during the summit:

The 14th Group of 20 (G20) summit was held June 28-29 in Osaka, Japan. Over the past decade, G20 nations have confronted many difficulties together. In response to crises, they have coordinated macroeconomic policies, upheld free trade, opposed protectionism, and made great contributions to preventing the global financial crisis from turning into a disaster like the Great Depression in the 1930s.

The creation of G20 summit was a landmark event in global governance. It demonstrated a significant advance in line with the needs of the times, as it gave China and other developing countries an opportunity to formally participate in world affairs. It also opened a new front for China-U.S. cooperation. Before every session, the two countries would exchange views on the summit's theme. Afterwards, they would discuss how to implement the summit decisions in the context of the China-U.S. strategic and economic dialogue. Thanks to such meetings, the bond between the two countries have been greatly enhanced.

However, since U.S. President Donald Trump took office, the world economy has been confronted with a series of fresh, complicated challenges. In the name of "Make America Great Again," the Trump administration has played up unilateralism and protectionism. The United States has quit many multilateral mechanisms, and even threatened to withdraw from the World Trade Organization. The trade conflicts it has provoked with China have posed a grave challenge to the global industrial and supply chains.

In the G20 summit in Osaka, many state leaders advocated multilateralism, openness and cooperation, calling for joint efforts in forging a high-quality global economy. Presiding over the summit, Japanese Prime Minister Shinzo Abe said taking actions focused on trade restriction were not in the best interests of any country, and all sides need to send a strong message to support and promote free and fair trade. Meanwhile, Chinese President Xi Jinping pledged a series of new measures to promote further opening-up the country, in addition to measures it has already taken in this regard. It once again demonstrated China's determination and decisive actions on opening up, and offered Chinese wisdom and a Chinese approach to promoting world economic development.

Another highlight of the summit was the meeting between the Chinese and U.S. state leaders. When meeting Trump on June 29, Xi reiterated that the two countries both benefit from cooperation, and lose from confrontation. He called on the U.S. side to jointly advance a China-U.S. relationship featuring coordination, cooperation and stability. The two leaders agreed to restart bilateral economic and trade consultations on the basis of mutual respect. The U.S. side said it would not add new tariffs on imports from China. Let's hope that the United States honor its word, conform to the trend of the times, and act in favor of bilateral ties and world economic development.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

G20 summit upholds multilateralism, opposes protectionism
http://www.china.org.cn/video/2019-07/01/content_74940867.htm

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