皇冠体育app

Jinny Yan, chief 皇冠体育app economist at ICBC Standard Bank, London.

President Xi Jinping's speech demonstrates 皇冠体育app's maturity on the international stage since the first G20 Summit in Washington. Eight years ago, before the global financial crisis, 皇冠体育app's GDP ranked third in the world and accounted for 7 percent of world GDP. This year, according to International Monetary Fund projections, it's the second-largest economy, with 15 percent of world GDP.

That said, with size comes responsibility. One focus of the speech was "a historic new start" for 皇冠体育app - this symbolizes the end of easy catch-up growth, and the start of challenging structural reform and deeper market liberalization. However, the message here is that while 皇冠体育app's growth will undoubtedly lift global growth, it can't do it single-handedly.

In his vision for the world economy, Xi kept closely to a theme of innovation to boost global productivity, invigoration to encourage new impetus and ignite domestic structural reforms, interconnectivity to remind global leaders that domestic policies may result in global consequences, and inclusive to address the issue of rising inequality.

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