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Xi Jinping: G20 should become mechanism of reacting to global crises

The G20 leaders should change the short-term policies for long-term ones, Chinese leader Xi Jinping said

Chinese leader Xi Jinping EPA/HOW HWEE YOUNG

Chinese leader Xi Jinping

© EPA/HOW HWEE YOUNG

HANGZHOU /China/, September 4. /TASS/. The G20 countries should become elements of reacting to crises of global management institutions, Chinese leader Xi Jinping told the first meeting of G20 summit on Sunday.

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"G20 countries should become a mechanism of reacting to crises in the global management institutions," he said.

The G20 leaders should change the short-term policies for long-term ones, Xi Jinping added.

"Facing the current problems, we should be using innovative ways of development, which will become new growth drivers," he said. "This year, we have agreed already the roadmap for development."

"G20 countries should coordinate the overwhelming fiscal, monetary-credit and structural policies during reforms, should build up the international demand and offer a basis for global growth," he said.

Talking about the process of economic globalization, Xi Jinping said that it is constrained by protectionist measures.

"The process of economic globalization today is unstable because of protectionist measures and risks in the global economy. The international community has high hopes for the G20 summit," Chinese leader said.

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