German Ambassador praises G20 Summit’s theme and major agendas

By Huang Fahong from the People’s Daily

 

Praising the theme and major agendas selected by the G20 Hangzhou Summit, German Ambassador to China Michael Clauss said that China has laid a solid foundation for the event’s success.

Clauss made the remarks during an interview with the People’s Daily ahead of the summit, which will be held September 3-4. The core agendas of the summit include improving the global economy, opposing protectionism, promoting structural reform and innovation.

The summit came amid a sluggish world economic recovery, with the International Monetary Fund has more than once cut its forecasts for global economic growth.

As one of the most important platforms for communication and coordination on global policy, the G20 Summit gathers major economies around the world. As such, it will be a wise move for China to use this platform to inject new impetus for world economic growth, the ambassador said.

 

According to the ambassador, the theme of the summit – “Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy” – is a perfect match for the current global situation.

 

Taking “innovation” as an example, he explained that among the three engines of export, domestic demand and technological innovation, the former two cannot sustain an economy over the short run, therefore innovation is the only choice when it comes to improving productivity and reviving the economy.

The ambassador also said that an “inclusive” economy is sure to bring about a more open world. Considering the increasingly difficult challenges imposed by protectionism, the inclusion of “inclusiveness” as part of the summit’s theme sends a clear-cut signal that curbing trade protectionism should be a priority, the diplomat added.

 

Clauss expressed Germany’s support for the agendas set by the summit, stressing that economic  structural reform is an important necessity.

Facts have shown that the injection of large amounts of capital stimulus cannot revive an economy, instead only leading to a false prosperity that will be followed by a sharp fall, he explained, adding that sustainable economic growth can only be achieved through structural reform.

The ambassador said he appreciated that China has included sustainable development, especially concerning climate change, on the summit agenda. “We advocate that the Paris Agreement be implemented in an accelerated and transparent manner,” he said.

The agendas for the summit are sure to create opportunities for possible cooperation between Germany and China, Clauss pointed out, adding that both countries have established cooperation mechanisms in a number of fields.

He took the innovation industry as an example. Germany and China have agreed to align their “Industry 4.0” and “Made in China 2025” plans, and also established cooperative ties between government departments, research institutions and enterprises.

Unofficially announced at the Antalya Summit last year, Germany will also be officially confirmed as the host of the next G20 Summit during the Hangzhou Summit.

Clauss stressed that the next G20 summit should follow in the steps of the Hangzhou Summit when it comes to fields such as sustainable development and climate protection.

“Hangzhou is well prepared for the summit, and we are looking forward to its success!” he said.