2016年CRI Protectionism is an inevitable challenge to G20 Summit: experts

 

China is preparing intensively for the September G20 Summit, and sparing no efforts to create a dialogue platform between developing and developed countries, but problems such as the weakening world economy and rising trade protectionism are still the inevitable¹ challenges the summit has to face.

Gerhard Stahl, former Secretary-General of the European Committee of the Regions, said that strengthening economic cooperation among countries and regions, being wary² about the rising protectionism, as well as building an open market will be the most significant responsibility of this year's G20 Summit.

"I think G20 has to play an important role. We need the coordination³ of the economic policy between the major entities⁴, which means between China, Asia, Europe, and the United States. We also have to integrate Africa and developing countries. So this G20 can be a very important platform. We also have to make sure global trade remains⁵ an important element, protectionist policies are rejected, and that protected markets are further opened up. I think the G20 plays an important role."

David Dollar, senior researcher of the Brookings Institute, said that this year's economic growth rate appears to be 3 percent although it was estimated to be 4 percent, so in facing the economic recession, the fiscal⁶ stimulus⁷ policies dominated by governments are still going to need important initiatives to boost economy and development.

Under the current circumstances of depression in the world economy, the tendency for anti-globalization has emerged in some developed countries recently.

David Dollar suggests that developed countries should not forget their origins, and developing countries like China should keep playing a leading role, stepping up efforts to open up.

"So I think you need the developing countries to play more of a leading role in opening up ***, it will be great if China would take some initiatives to open up its economy more. The advanced economies have to fight against protectionism because free trade and investment have been the foundation of prosperity for these countries; their people are forgetting it now."

Huang Xiaoguang, CEO of the Australia and New Zealand Banking⁸ Group in China, also voiced his expectations for the G20 Summit in combating protectionism.

He looks to the G20, representing the most important countries in the world, to be in the position to work together to make the world better.

According to the expert, not only will the G20 Summit prove important to solving the world's economic issues, it is also a key opportunity for China to showcase itself to the world as a great place to do business.

For CRI, this is Huang Yue.

1 inevitable   

adj.不可避免的，必然发生的

参考例句：

• Mary was wearing her inevitable large hat.玛丽戴着她总是戴的那顶大帽子。
• The defeat had inevitable consequences for British policy.战败对英国政策不可避免地产生了影响。

2 wary   

adj.谨慎的，机警的，小心的

参考例句：

• He is wary of telling secrets to others.他谨防向他人泄露秘密。
• Paula frowned,suddenly wary.宝拉皱了皱眉头，突然警惕起来。

3 coordination   

n.协调，协作

参考例句：

• Gymnastics is a sport that requires a considerable level of coordination.体操是一项需要高协调性的运动。
• The perfect coordination of the dancers and singers added a rhythmic charm to the performance.舞蹈演员和歌手们配合得很好，使演出更具魅力。

4 entities   

实体对像； 实体，独立存在体，实际存在物( entity的名词复数 )

参考例句：

• Our newspaper and our printing business form separate corporate entities. 我们的报纸和印刷业形成相对独立的企业实体。
• 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。

5 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

6 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。

7 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

8 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。