Xi proposes pandemic 'firewall,' free trade for world economic recovery
FREE TRADE
The two-day summit, along with three other key multilateral diplomatic events that the Chinese leader attended within less than two weeks, has seen Xi champion multilateralism and free global trade.
He proposed that the G20 should ensure the smooth functioning of the global economy and restore the secure and smooth operation of global industrial and supply chains, reduce tariffs and barriers.
Xi said China has put off debt repayment totaling over $1.3 billion, pledging that the country will strengthen measures on debt suspension and relief for countries with particular difficulties.
"We should firmly safeguard the rules-based multilateral trading system that is transparent, nondiscriminatory, open and inclusive," Xi said, calling on the G20 to oppose unilateralism and protectionism, and safeguard developing countries' right to and space of development.
He reiterated China's new development paradigm is by no means to close its doors but to build a new system of open economy of higher standards.
"Xi's words show that China's position of continuously and firmly promoting globalization and joining the division of labor in the global industrial and supply chains, as well as its position of working with other countries to develop and share the Chinese market through enhancing its market openness," said Ren Libo, head of the Beijing-based Chinese think tank Grandview Institution.
"China actively embraces the world economic order and shoulders its responsibilities and obligations as an important member of the global community through proactive participation and joint construction," Ren told Xinhua.
