2016年CRI G20 Meeting Participants Stresses Structural Reforms

 

Christine Lagarde, managing director of the International Monetary¹ Fund, says China is not the only economy in need of structural² reforms as they are fundamental for the success of every G20 economy.

lagarde says the reforms are not only necessary, but also need to be broad, bold and accelerated.

"I believe that we need to realize the expected pay off from structural reform earlier rather than later regular pace. So we call for broad, bold and accelerated structural reforms. We ask the G20 countries to speed up the implementation³ of structural reforms that they commit to. We are not ask for reinvention of anything. We are simply saying commitments have been made, they should be implemented⁴ thoroughly⁵, broadly, boldly together." 

Finance ministers and central bank governors from the G20 economies gathered in Shanghai on Friday for the two-day meeting.

The event takes place amid volatile⁶ financial world markets as there have been major market swings in China, Europe and Japan since the beginning of the year.

Describing the global recovery as "disappointing," the IMF chief says the need for reforms has become more pressing.

Echoing her point is Chinese Finance Minister Lou Jiwei.

The official notes that middle- and long-term structural challenges are the deeper problems affecting the global economic recovery

"In particular, slowing growth rates of major economies and the total productivity and the potential of decreasing spending capacity become fundamental reasons that restrain the global economy from a strong recovery."

Lou says that deepening structural reforms is fundamental to a sustainable economic recovery.

"First, we should enhance the 'Top-Level Design' of economic reform. Considering situations and developments in different countries, the G20 should find the greatest common divisor on fundamental fields and principles in reforms, find out priorities and common principles in the structural reforms. This will help G20 member countries to promote and enforce structural reform and to maximize spillover effect of the reform."

The G20 -- a group of 19 countries and the European Union -- was created in the wake of the 1997 Asian Financial Crisis and was upgraded to a summit of leaders in 2008 to tackle the global financial crisis.

Zhou Qiangwu is the deputy director of the Asia-Pacific Finance and Development Center from the Chinese Ministry⁷ of Finance.

"The G20 is now in its transformation⁸, from crisis response to long-term governance, which I believe will further strengthen its role in global policy coordination⁹ and cooperation. We decided¹⁰ to have the discussion of structural reform prioritized in the agenda, aiming to advance the reform and reach concrete goals during China's presidency¹¹."

1 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。

2 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。

3 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。

4 implemented   

v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效

参考例句：

• This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
• The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句

5 thoroughly   

adv.完全地，彻底地，十足地

参考例句：

• The soil must be thoroughly turned over before planting.一定要先把土地深翻一遍再下种。
• The soldiers have been thoroughly instructed in the care of their weapons.士兵们都系统地接受过保护武器的训练。

6 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

7 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

8 transformation   

n.变化；改造；转变

参考例句：

• Going to college brought about a dramatic transformation in her outlook.上大学使她的观念发生了巨大的变化。
• He was struggling to make the transformation from single man to responsible husband.他正在努力使自己由单身汉变为可靠的丈夫。

9 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。

10 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

11 presidency   

n.总统(校长，总经理)的职位(任期)

参考例句：

• Roosevelt was elected four times to the presidency of the United States.罗斯福连续当选四届美国总统。
• Two candidates are emerging as contestants for the presidency.两位候选人最终成为总统职位竞争者。