Plea to safeguard globalization
Print Edition
CHINESE Premier Li Keqiang and the leaders of six major international financial institutions jointly chaired the Fourth “1+6” Roundtable dialogue in Beijing in Diaoyutai State Guesthouse yesterday.
With a focus on promoting openness, stability and high quality growth of the world economy, those present at the talks brainstormed advancing the reform of global governance and improving the business environment.
All parties stressed the need to pursue appropriate fiscal, monetary and financial policies, continue to advance structural reform, shore up financial resilience, and maintain and strengthen the rules-based multilateral trading system.
They also expressed the willingness to support China’s high-quality development through reforms and opening-up, and jointly work toward strong, sustainable, balanced and inclusive growth of the global economy.
Li called on all parties to jointly safeguard economic globalization and work together to cope with the downward pressure on the world economy.
“We must firmly uphold multilateralism and free trade, work together to address global challenges, and promote trade and investment liberalization and facilitation,” he said, urging all parties to strengthen macroeconomic policy coordination.
Li said that the current global economic situation was undergoing profound and complex changes, with world economic growth slowing down significantly, the global industrial chain and the international division of labor system being hit, and the rise of protectionism.
Now, the question is how to maintain the steady growth of the world economy that is crucial to the future of mankind. China is looking forward to building consensus and deepening cooperation through dialogue to promote sustainable, steady and sound development of the world economy, said Li.
China has taken a series of measures to deepen reform and opening-up this year as a way of guarding against downward pressures. China has a big market and an increasingly improved business environment, which is full of potential, said Li.
The six leaders were World Bank Group President David Malpass, International Monetary Fund Managing Director Kristalina Georgieva, World Trade Organization Deputy Director-General Alan Wolff, International Labor Organization Director-General Guy Ryder, Organization for Economic Cooperation and Development Secretary-General Angel Gurria and Financial Stability Board Chairman Randal Quarles.
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