Wang Qishan: G20 Must Look Beyond the Needs of the Top 20

“China believes the developing world should have a stronger say in how the international financial system is run,” Chinese vice-premier Wang Qishan writes on the Times Online:

The global financial crisis that started last year has taken its toll on the world economy on an unprecedented scale. To cope with the crisis, a strong signal must be sent from the upcoming London summit that the international community is determined to act together to get through the time of hardship.

After the financial crisis broke out, China was quick to put in place a decisive plan to boost domestic demand, advance economic restructuring and improve people’s wellbeing. These measures have started to produce results. At present, the Chinese economy still faces severe challenges.

We have to meet the demanding goal of maintaining economic growth by boosting domestic demand, ensuring employment and readjusting the economic structure. We also have to cope with shrinking external demand caused by the global economic downturn and trade and investment protectionism. China will continue to take forceful measures to maintain steady and fast economic growth and contribute its share to an early recovery of the world economy.

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