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World / G20 summit

China's growth injects vitality into global governance

(Xinhua) Updated: 2015-11-18 00:09

With inclusive programs, such as the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, China is showing that it is committed to connecting regions and countries, while at the same time creating opportunities.

Another such program, the Asian Infrastructure Investment Bank (AIIB), will finance infrastructure projects in the Asia-Pacific region.

Add to this, the four proposals made by Xi at the summit, which included improved communication and coordination on macroeconomic policies, demonstrates that China is proactively spurring growth rather than trying to protect itself.

In the wake of the World Trade Organization (WTO) Doha negotiations that stumbled because complex issues could not be resolved, nations are now forming regional politically-charged trade blocks.

However, both the AIIB and the Belt and Road are inclusive, which explains why they are being welcomed globally.

China will host the 2016 G20 summit in the eastern city of Hangzhou on the theme, "Building an innovative, invigorated, interconnected and inclusive world economy."

Promising greater commitment to economic innovation over the next five years, China is expected to take a more active role in global governance.

Yet, the remedies for growth prescribed by China demand interaction from the rest of the world. Much in the same way that development in China should be integrated with the wider global community.

It is only through a collective and united approach to global governance that this innovation system can be sustainable.

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