BEIJING, June 28 -- One year ago, in his remarks at the Group of 20 (G20) summit in the Japanese city of Osaka, Chinese President Xi Jinping urged the leaders of major economies to "re-calibrate the direction of the world economy and global governance at this critical juncture, work together to boost market confidence, and bring hope to our people."
As the world is confronting the twin crises of the sweeping COVID-19 pandemic and a deep economic contraction, Xi's words spoken last year couldn't be more relevant today.
The G20, the world's premier platform for international economic cooperation, should step up its efforts to coordinate a much more effective and rigorous global response, just as what it did to lead the world out of the 2008-2009 financial crisis.
As the clock is ticking, G20 members have already been working to strengthen their communication, and are searching for solutions.
At a virtual summit in late March, G20 leaders agreed that "the uNPRecedented COVID-19 pandemic is a powerful reminder of our interconnectedness and vulnerabilities," and vowed to present "a united front against this common threat."
Also, multiple meetings of the group's central bankers and finance ministers, as well as ministerial gatherings in the fields of trade, health, agriculture, digital economy, energy and tourism have been held.
Yet with few signs showing that the COVID-19 pandemic is ebbing, a global caseload exceeding 10 million, and the International Monetary Fund (IMF) projecting a global contraction of 4.9 percent this year, the G20 bloc, representing nearly 90 percent of the global economy, shoulders a much heavier responsibility this time and thus needs to do more.
The top priority is, of course, to beat the virus, or at least slow down its momentum of infections. G20 members should thus focus on how they can improve their collective prevention and control coordination, and support such international organizations as the World Health Organization in playing their unique guiding roles so that chains of cross-border transmissions are cut off, and new sources of infections are nipped in the bud.
They should also champion the global cause by researching and developing effective treatments and vaccines, and ensure that those life-saving tools in the coronavirus response are made universally available as global public goods, and as quickly as possible.
Facing the deadly virus, no one will ever be truly safe until everyone is safe. G20 members should continue helping developing and least developed countries, notably those in Africa and small island states, build up their health systems and capacities in coping with the coronavirus challenge.
Compared to the fight against the deadly pathogen, the battle to forestall the arrival of what many believe will be the most serious global recession since the Great Depression of the 1930s is even more arduous.
To jumpstart global economic recovery in the post-pandemic world, the G20 should first jointly stabilize the hard-hit global trade and supply chains through enhanced international cooperation. This is also vital to the final victory over the deadly disease.
Take ventilators as an example. A commercial ventilator is composed of around 1,500 parts supplied by more than a dozen countries. To ramp up production of the life-saving machines, the countries involved must work together.
This means that G20 economies in the face of the pandemic should hold together the reeling global industrial and supply chains, and guarantee a smooth flow of such key trade items as medical supplies and agricultural products.
Another task is to lay a rock solid foundation for future growth in the post-pandemic world through well coordinated financial relief plans and recovery blueprints.
During the March summit, G20 nations pledged 5 trillion U.S. dollars to spur global economic recovery from the pandemic, and promised to "continue to conduct bold and large-scale fiscal support."
It is also essential to make sure that the world's heavily indebted countries will not be submerged financially. Thus G20 countries should follow through with their Debt Service Suspension Initiative so that those nations are supported in their efforts to protect lives and alleviate the economic and financial crises resulting from the COVID-19 pandemic.
Meanwhile, the group should work with the IMF, the World Bank and other multilateral financial bodies to allocate resources and raise additional funds to fight the pandemic, inject abundant liquidity into the global marketplace, and foster confidence in this very moment of uncertainty and fear.
At the political level, the G20 can serve, as it always does, as a platform to bridge divisions and build up consensus. Within the G20 framework, broader anti-virus cooperation requires China and the United States, the world's top two economies, to find ways to work together.
"Geopolitical and trade tensions could damage fragile global relationships at a time when trade is projected to collapse by around 12 percent," IMF Chief Economist Gita Gopinath has warned.
China hawks in Washington should stop taking advantage of the pandemic to attack China and stoke geopolitical tensions, because such poisonous schemes will only undermine joint efforts to defeat the virus and salvage the global economy.
As major economies, G20 members' decisions bear global and far-reaching significance.
Sitting side by side with his G20 colleagues last year in Osaka, Xi warned against allowing themselves "to become prisoners of short-term interests" and "irrevocable mistakes of historic consequences."
He also said that "by expanding common interests and taking a long-term view, we can realize enduring peace and prosperity in the world and deliver a better life to all our people."
The coronavirus pandemic is indeed a monumental test for the human race's ability to come together to face off a shared critical threat. Failure is not an option and the G20 has no other choice but to lead.
体坛英语资讯:World champion Yulo bags two golds and a silver at SEA Games gymnastics
体坛英语资讯:CBA Roundup: Zhejiang Golden Bulls, Shanxi, Xinjiang all grab 4th straight win
体坛英语资讯:World number one Ash Barty takes out Australias top tennis award
泰坦尼克号失事百年 沉船地点举行纪念
美国年轻人最佳15项工作出炉 牙科助理列榜首
澳大利亚遭受历史级森林大火,把新西兰天空烧成了橘色
英国9岁小女孩吐槽学校午餐走红
BBC推荐:2020年必看电影(下)
全球十大美女城市揭晓 亚洲仅首尔入选
美国科学家发现,中止堕胎非常危险
体坛英语资讯:Chinese teenager Yan ousts world No. 4 Robertson at snooker UK Championships
求职面试?交出Facebook密码!
奥朗德同居女友是小三 助其打造总统范儿
国内英语资讯:Chinese vice premier stresses system building for elderly care
国际英语资讯:U.S. slaps fresh sanctions against Iran after missile attacks
Excerpts from Lei Feng’s Diary《雷锋日记》节选十四
体坛英语资讯:Chinas coach Xu confident ahead of FIBA womens Olympic qualifiers
《时代》封面登三岁男童吃母乳照惹争议
美国将公布大萧条时期人口普查资料
美国发生iPhone4充电时自燃爆炸事件
体坛英语资讯:Ding sets up encounter against OSullivan at snooker UK Championships
国内英语资讯:Xi honors two academicians with Chinas top science award
抖音海外版第四季度利润据说超300%
小狗居然被绑架!
国内英语资讯:Chinese govt does not require Huawei to collect foreign data: ambassador to Germany
国际英语资讯:Iran releases report on crashed Ukrainian passenger plane
瑞士公投拒绝六周带薪假期
国内英语资讯:Chinese president to visit Myanmar next week
拉登绝密信件公布 曾计划暗杀奥巴马
科学揭秘:“鬼压床”是怎么回事?
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |