BERLIN, May 3 -- German Chancellor Angela Merkel Wednesday told B20 Summit 2017 in Berlin that globalization and inclusive growth are important for the global economy.
To the G20-related business gathering, Merkel said the world is interconnected and the prosperity should be shared.
There need to create a shared mechanism that can enable all countries to benefit from globalization and to restrict risks attached.
Merkel assured Germany, as the host of Group of 20 (G20) Summit 2017, would commit to further promoting globalization and a strong, sustainable and inclusive economic growth.
Merkel reaffirmed her position against protectionism and isolationism, warning, "Anyone who tries to withdraw from international competition can perhaps deliver short-term advantages. But over the medium- and long-term, their own capacity to innovate will be weakened."
She said China's host of G20 Summit 2016 was a great success and offered good experience to Germany.
But she also pointed to the difficulty of making progress in the G20.
"We are 20 different countries, with 20 different political systems, with 20 different development levels," said Merkel. "This is no simple task (to get things approved)."
She even said that sometimes holding on to what has been achieved is already a success, while some countries are reluctant to revisit previous statements on climate change and trade.