Zhou Qiangwu, director of the International Finance Center of the Ministry of Finance of China, said at the meeting that the US unilateralism and protectionist policies have had a negative impact on the global economy and the existing global governance structure. The IMF's latest economic forecast report has been adjusted for the first time since 2016. The decline in global growth expectations is actually a testimony.

The latest IMF report cuts global growth in 2018-2019 to 3.7%, down from 3.9% predicted in July, mainly due to escalating trade tensions and emerging market pressures. At the same time, the IMF lowered its US growth forecast for 2019 from 2.7% to 2.5%, maintaining the expected 2.9% for 2018.

He suggested that in order to promote the further development of globalization, the international community should continue to firmly support the multilateral system represented by the United Nations, WTO, World Bank and IMF, and continue to strengthen macroeconomic policy coordination at the global level, while China should continue to play in the process of globalization. positive effects.

(speech record)

"The United States is run by the Americans themselves. We reject the idea of ​​globalism and embrace patriotism." This is Trump's anti-global speech at the UN General Assembly. In fact, the US authorities led by Trump have taken substantial steps in various fields, blatantly opposing globalization and rejecting multilateralism, such as launching tariff wars against multiple trading partners, provoking and damaging the multilateral trading system, and then For example, trying to weaken the role of the international economic governance system and withdraw from the Paris Gas Change Agreement. The US unilateralism and protectionist policies have had a negative impact on the global economy and the existing global governance structure. The IMF's latest economic forecast report has been the first to reduce global growth expectations since 2016.

It can be said that the development of globalization to this day has reached a critical crossroads. Where is the future of globalization going? Should the international community continue to promote the globalization process? The answer is yes. Unilateralism and counter-globalization do not conform to the international trend and the law of international development. I very much agree with the IFF report that "the global market is still worth deepening and opening up, and it has great potential. It is expected to achieve common development and mutual benefit." To promote the further development of globalization, the international community should make a difference. There are a few suggestions.

First, we should continue to firmly support the multilateral system represented by the United Nations, the WTO, the World Bank and the IMF. For decades, these institutions have played an indispensable role in the global economic governance system, guaranteeing global peace and stability. Therefore, multilateral institutions should continue to play a leading role in the globalization process.

Second, we should continue to strengthen macroeconomic policy coordination at the global level. We should make good use of the UN, World Bank, IMF, WTO and G20 platforms to fully carry out policy communication and coordination, lay a more solid foundation for globalization, and promote globalization to continue to develop in depth.

Third, China should continue to play an active role in the globalization process. As a beneficiary of globalization and the multilateral system, China will firmly support the globalization process. Despite the broad benefits of the international community in globalization, individual countries have posed their own structural problems on globalization. China has always supported the globalization process in terms of policies, knowledge and funding. For example, China fully supports the operations of multilateral institutions such as the World Bank and the IMF. The Chinese government donated 3.9 billion yuan to IDA's 18th capital increase. In addition, China also proposed the concept of "community of human destiny" for the first time, and contributed a new idea to the globalization process from a theoretical perspective, and actively implemented this important idea with the initiatives of the "Belt and Road" and the AIIB.