In a virtual meeting of the World Economic Forum (WEF), Chinese President Xi Jin Ping conveyed his message regarding the importance of coordinating macroeconomic policies and enhancing the role of the G-20 in today’s global economic governance. He said that the economic recovery from the COVID-19 virus pandemic was rather shaky.
Xi said the global economic outlook remains uncertain and a public health emergency may reoccur in the future.
Xi Jinping made his first appearance at the forum since his defense of free trade and globalization in a speech at Davos in 2017. He struck the same tone this time by advocating multilateralism as a way out of current challenges.
“We must build an open world economy, get rid of discrimination and exclusivity, rules and systems, and remove barriers to trade, investment and technological exchange,” he said.
The G20, which is an international forum, groups the 19 largest developing and developing countries. According to him, it must be strengthened as the main forum for global economic governance and the world must be involved in closer coordination of macroeconomic policies.
Xi Jinping also added that the international community must be governed according to the rules and consensus reached by all countries, not by one or several governments.