China's outbound investment helps boost global economy: experts
( Xinhua )
NEW YORK - China's outbound investment strategies such as the Belt and Road Initiative will help stimulate the global economic growth, matching the key objectives of the Group of Twenty (G20) Turkey summit on Nov 15-16, US experts said.
One of the key objective of the G20 summit this year is to strengthen the global recovery and lift potential growth.
In the communique issued at the end of the summit on Monday, the G20 leaders called for more collective actions to achieve strong, sustainable and balanced growth that can benefit all.
"The G20 can have a bigger role in global economy," Robert Savage, CEO of fund management firm CCTrack Solutions, said, "China is cognizant of that and could play a very important role and achieve win-win result."
The Belt and Road Initiative (the initiative on the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road), he said, will help the regional economy, particularly those countries that have been capital-constrained.
"Chinese capital and technology will help their infrastructure. A better infrastructure will help the world economy grow," he said.
The Belt and Road Initiative was put forward by Chinese President Xi Jinping during his overseas visits in 2013. The initiative is intended to connect Asian, European and African countries more closely and promote cooperation between them.
"We are living in a world that needs rebalancing," Savage said, "Monetary policy like quantitative easing helped to raise finance assets value, but didn't completely transfer to the real economy. In many countries, policies in the last 5 years have created a split between rich and poor, that's not sustainable."
His opinion was echoed by other US economic experts.
According to Robert Hormats, vice chairman of Kissinger Associates, weak growth, deflation environment and debt are three challenges to many countries at present.
In his view, the best way to boost the global economic growth is to avoid exchange volatility, remove trade barrier and support infrastructure.
Stressing the need to improve infrastructure, the expert said the Belt and Road Initiative is very helpful and positive.
"It's good for China and countries in the region and will help to increase the growth," he said, "The key is the region needs infrastructure. It's an important project to build connectivity in the region."