G20 countries should contain global inflation, eliminate economic and financial risks, and adhere to the concept of common, comprehensive, common and sustainable security, Chinese President Xi Jinping said at the G20 summit.
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The G20 summit is taking place on the Indonesian island of Bali on November 15-16.
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“It is necessary to contain global inflation, eliminate economic and financial risks, especially developed economies should reduce the negative side effects from their regulation of monetary policy,” Xi Jinping said, quoted by the Chinese Foreign Ministry.
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He also noted the need to continue to deepen international cooperation in the fight against the COVID-19 pandemic, increase the availability of vaccines, medicines, diagnostics and treatments in developing countries in order to create favorable conditions for economic recovery.
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At the same time, according to the Chinese leader, world trade, the digital economy, the transition to green energy and the fight against corruption are important factors contributing to global development.
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“We must continue to support the multilateral trading system with the central role of the World Trade Organization, vigorously promote WTO reform, promote trade and investment liberalization and facilitation, and promote an open world economy,” he said.
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Xi Jinping also called on the G20 countries to adhere to “zero tolerance” for corruption, increase international cooperation to find fugitives, and not create “safe havens” for corrupt officials and their assets.
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“Global development is impossible without a peaceful and stable international environment. To this end, I launched the Global Security Initiative. Our goal is to work with all parties to promote the spirit of the UN Charter, adhere to the principle of indivisible security, as well as the concept of a common, comprehensive common and sustainable security, to advocate for the settlement of conflicts through negotiations and the resolution of disputes through consultations, and to support all efforts to resolve crises peacefully,” he added.
