Business / Economy

China's plans for growth will help reduce global inequality

(Xinhua) Updated: 2016-08-13 11:03

BUENOS AIRES - China's proposal to build a more interconnected global economy would help reduce inequality, Argentine experts have said ahead of the G20 summit scheduled for Sept 4-5 in China's eastern city of Hangzhou.

Now is a crucial moment for the global economy in which China's leadership can make a difference, they believe.

As the world's second-largest economy, "China is the factor driving economic growth and global demand for goods and services, with projections of above 6.5 percent annual growth from 2016 to 2020," Nadia Radulovich and Maria Cecilia Peralta, co-founders of the Asia Viewers consultancy in Argentina, said during a recent interview with Xinhua.

They agreed that "international economic cooperation has reached a crucial point," and that "the role of China at the G20 summit is of great importance."

China takes the annual presidency of the G20 summit this year, which will center on the theme "Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy."

"This vision speaks of a global community where economic connectivity between countries leads to the benefits of growth being equal for all," they said.

In their opinion, as the summit agenda reveals, the Hangzhou G20 summit calls for members to commit to coordinated macro-economic policies in order to reduce negative collateral effects, maintain stability on the financial markets, and increase investment and consumption.

In addition, they hailed China's effort to establish a G20 working group on trade and investment.

Radulovich and Peralta say they believe this would help explore "topics such as long-term governance and the coordination of fiscal and financial policies, which are crucial to the G20."

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