G20 Summit 2016: A Turning Point for Africa; As China Sets 10 Expected Results

{By Fredrick P. W. Gaye in Beijing, China / 0088618510699710}

Foreign Minister Wang Yi addressing journalists on May 26, 2016 in Beijing
Foreign Minister Wang Yi addressing journalists on May 26, 2016 in Beijing

On September 4-5, 2016, heads of states and governments of G20 as well as other invitees will gather in Hangzhou, Zhejiang Province in eastern China, to discuss the world economy: issues affecting it and the way forward.

The G20 is an international forum for the governments and central bank governors from 20 major economies founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.

As the host of this year’s and 11th even of the global economic body, the People’s Republic of China (PRC) has disclosed plans to work with parties to deliver on ten results from the Summit, one of which is considered a turning point for African countries. This is a demonstration of China’s dream of developed world through its “Belt and road” initiative.

Addressing local and international journalists including 22 African journalists about the Summit on May 26, 2016 in Beijing, PRC’s Minister of Foreign Affairs, Mr. Wang Yi, named one of the results to deliver as launching a cooperation initiative to support the industrialization of African countries and the least developed countries.

The G20 not only belongs to its members countries, but also belongs to the world, and it focuses not only on the well-being of its own but also common development of all human beings,” Wang declared.

According to him, they will focus on the core challenges and prominent problems encountered by the world economy, work with all parties to seek for common solutions and contribute China’s wisdom to the event.

The PRC’s Foreign Affairs Minister named other results to deliver as:to develop a blueprint of innovative growth; to formulate action plans for the implementation of the 2030 Agenda for Sustainable Development; to identify priority areas, guiding principles and index system for the structural reform; to draft strategies for global trade growth; to set out guiding principles for global investment policy; to deepen the reform of international financial architecture; to establish the three-in-one anti-corruption cooperation; to draw up entrepreneurship action plans and to promote the early entry into force of the Paris Agreement on climate change.

He expressed the hope that the Hangzhou Summit, with concerted efforts of all parties, can build a solid defense line for the world economy, jointly boost world economic growth, promote international economic cooperation and strengthen global economic governance.

Wang spoke of China’s determination to stick to the problem-oriented principle in the Summit. “In dealing with the differentiation of policies of different countries, we will push the increase of macro policies coordination in order to avoid the negative spillover effects,” he added.

Facing the downturn of trade and investment and the rise of protectionism, Wang said China will advance the revival of the two major engines and build an open global economy. He elucidated that his country will promote the G20 to take the lead in pursuing cooperation for sustainable development throughout the world in a bid to bridge the development gap.

In addition to the results, Wang revealed two highlights are expected in Hangzhou Summit:the first is the diverse and colorful special events and the second is the open and inclusive atmosphere throughout the summit. The Chinese side always pays attention to opinions from all sides, and respects different voices.

“We have arranged the largest ever business summit to be simultaneously held with the leaders’ summit. President Xi Jinping will attend the summit and deliver a keynote speech. Before the G20 Leaders’ Summit, an informal meeting of BRICS leaders will be held. The G20 Leaders’ Summit will kick off on the afternoon of September 4 and close on the afternoon of September 5.” he indicated.

Wangused the occasion to explain that at the Antalya Summit in Turkey last year, President Xi introduced the theme, key topics and China’s overall hosting plan of the G20 Hangzhou Summit. China adopts “Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy” as the theme of the summit, and sets up four main modules, namely “breaking a new path for growth”, “more effective and efficient global economic and financial governance”, “robust international trade and investment”, and “inclusive and interconnected development”.

The theme and topics proposed by China are highly recognized and supported by all members. It is widely considered that China’s ideas not only show a long-term and strategic vision, but also demonstrate broad horizon and ambition level.

Also addressing journalists on May 27, 2016 in Hangzhou marking a 100-day countdown to the summit, was Mr. Zhao Yide, the Communist Party of China (CPC) Secretary for Hangzhou Municipal Committee.

Zhao said Hangzhou is on course with preparations to host the summit, accommodate local and international guests.

Zhao explained that works on the G20 venues, residences of Chinese and foreign leaders, as well as the rebuilding and upgrading of some related venues have finished. Further explained that about six thousand volunteers have been training to provide services to the event.

Over 10,000 delegates and about 100 foreign leaders are expected to attend dozens of events during the G20 Summit, Zhao maintained.

The G20 seeks to address issues that go beyond the responsibilities of any one organization. The G-20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008, and the group also hosts separate meetings of finance ministers and central bank governors.
The members include 19 individual countries—Argentina, Australia, Brazil, Canada,

China, France, Germany, India,Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and theUnited States—along with the European Union (EU).

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About Cholo Brooks 13790 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.