2016年CRI G20 nations reiterate determination to use ＂all policy tools＂ to support growth

 

A communique issued after the two-day session noted¹ "the global economic environment is challenging and downside risks persist, highlighted by fluctuating commodity prices, and low inflation in many economies."

In it, the member economies reiterate² their determination to use all policy tools -- monetary³, fiscal⁴ and structural⁵ -- individually and collectively to achieve the goal of strong, sustainable, balanced and inclusive growth.

They also committed to enhance communication and cooperation, and take effective steps to address the challenges of structural problems.

Speaking to a press briefing, Chinese Minister of Finance Lou Jiwei said the structural reforms have been high on agenda.

"The G20 member countries have located the highest common divisor in terms of the important fields and principles of the reforms and identified the priorities and guiding principles of the reforms. This will help G20 member countries to collectively promote and enforce structural reforms and to maximize the positive spillover effects of the reforms."

The Chinese minister said structural issues have become the main constraint⁶ to global economic growth.

The G20 member countries had agreed to assess the progress of structural reforms every two years based on an indicator⁷ system.

The assessment⁸ results will be recorded into the Accountability Report on the Implementation⁹ of the G20 Development Commitments.

"This will help us objectively measure the overall economic and social effects of the reforms in each country. The assessment will also visualize¹⁰ the progress and direction of the reforms in the G20 member countries and act as a guidance for the next-phase reforms."

The governments at the meeting, which included Great Britain, called for a "close partnership¹¹" between the UK and Europe in the wake of Brexit, which they said had caused turmoil¹² in global markets but that steps have been taken to limit its impact.

The nations reaffirmed their previous exchange rate commitments, including refraining from competitive devaluations and not targeting exchange rates for competitive purposes.

During the meeting, G20 members again vowed¹³ to promote investment with focus on infrastructure¹⁴ in terms of both quantity and quality.

The finance leaders also endorsed¹⁵ recommendations to strengthen international financial architecture, with an agreement to build an open and resilient financial system.

They also warned of impacts that geopolitical conflicts, terrorism, and refugee flows have brought to the global economic environment.

The meeting in Chengdu is the last of its kind before the G20 Summit which kicks off in Hangzhou in China in September.

For CRI, this is Liu Yuanhui.

1 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

2 reiterate   

v.重申，反复地说

参考例句：

• Let me reiterate that we have absolutely no plans to increase taxation.让我再一次重申我们绝对没有增税的计划。
• I must reiterate that our position on this issue is very clear.我必须重申我们对这一项议题的立场很清楚。

3 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

4 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

5 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

6 constraint   

n.(on)约束，限制；限制(或约束)性的事物

参考例句：

• The boy felt constraint in her presence.那男孩在她面前感到局促不安。
• The lack of capital is major constraint on activities in the informal sector.资本短缺也是影响非正规部门生产经营的一个重要制约因素。

7 indicator   

n.指标；指示物，指示者；指示器

参考例句：

• Gold prices are often seen as an indicator of inflation.黃金价格常常被看作是通货膨胀的指标。
• His left-hand indicator is flashing.他左手边的转向灯正在闪亮。

8 assessment   

n.评价；评估；对财产的估价，被估定的金额

参考例句：

• This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
• What is your assessment of the situation?你对时局的看法如何？

9 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

10 visualize   

vt.使看得见，使具体化，想象，设想

参考例句：

• I remember meeting the man before but I can't visualize him.我记得以前见过那个人，但他的样子我想不起来了。
• She couldn't visualize flying through space.她无法想像在太空中飞行的景象。

11 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。

12 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

13 vowed   

起誓，发誓（vow的过去式与过去分词形式）

参考例句：

• He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
• I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。

14 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

15 endorsed   

vt.& vi.endorse的过去式或过去分词形式v.赞同( endorse的过去式和过去分词 )；在（尤指支票的）背面签字；在（文件的）背面写评论；在广告上说本人使用并赞同某产品

参考例句：

• The committee endorsed an initiative by the chairman to enter discussion about a possible merger. 委员会通过了主席提出的新方案，开始就可能进行的并购进行讨论。 来自《简明英汉词典》
• The government has broadly endorsed a research paper proposing new educational targets for 14-year-olds. 政府基本上支持建议对14 岁少年实行新教育目标的研究报告。 来自《简明英汉词典》