As leaders gather in Osaka for the G20 Summit, the world faces a great risk of unilateralism and trade protectionism undermining the healthy development of the global economy. Facing acute headwinds, many countries have realized that fighting trade protectionism requires joint efforts to prop up globalization and protect the current multilateral trading mechanisms.
Chinese President Xi Jinping has pointed out that building an open global economy is a key solution. He first proposed the building of an open global economy to the international community as early as in 2013 when he first attended the G20 Summit as head of state in St Petersburg. He has reaffirmed the concept since then, and at the 2018 G20 Summit held in Buenos Aires, he called on all countries to aim for an open global economy, and fight protectionism and unilateralism.
In this spirit, China Daily and the Chinese Academy of Social Sciences (CASS) will jointly hold the International Forum for Open Global Economy to come up with solutions. China Watch Institute, China Daily’s communication-led think tank, which published three preview policy reports on the Sino-European Summit, the ChinaAfrican Forum and the G20 Argentina Summit, has produced this report in collaboration with the Institute of World Economics and Politics of CASS, China’s representative think tank in the T20, whose knowledge and endorsement have greatly enriched the contents and broadened the scope of the report.
The report explores why an open global economy matters, especially in the current global context, and how to improve it through wide policy synergy, expanded cooperation at various levels and sectors, and through inclusive and sustainable development.
In this report, insightful opinions such as “An open global economy brings benefits to all” by Zhang Yuyan, a member of the CASS and director of the IWEP; “Infrastructure being built now has to be totally sustainable” by Nicholas Stern, chair of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science; and 13 other leading scholars worldwide offer valuable pointers and indepth thinking of how to build an open global economy.
[To read the original report, click here]
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