2016年CRI China's economic role sparks discussions among international officials, scholars

 

In a recent interview, International Monetary¹ Fund Managing Director, Christine Lagarde, expressed her confidence in China's reforms and economic growth.

"As opposed to many other countries which we had to downgrade in terms of growth forecast, we upgraded China, which clearly is delivering in the short term. In the medium term, those reforms – supply side reforms, governance issues, all of that has to be developed, rolled out, implemented², so that the medium term outlook for China is favorable."

The IMF approved the inclusion of the Chinese Renminbi into its Special Drawing Rights basket as a fifth currency, along with the US dollar, the euro, the Japanese yen³ and the British pound. The new SDR basket will formally go into effect from October this year.

Lagarde said it would mark a milestone⁴ in the internationalization of the Renminbi and reflect China's increasingly important role in global trade and economy.

"In and of itself, it's a great achievement because it has been a process by which progress has been made in terms of opening up the economy, structuring and better organizing the markets. Now that the Renminbi will be in the basket, it's clearly going to bring another large, international currency – the Renminbi, -- into a very exclusive group of those currencies that are considered as international currencies. And I'm sure that's only the beginning of a journey where more transactions, more issuance of bonds will be issued in as the SDR. The SDR will be more meaningful because it will include the currency of a very, very large economic player – China."

The IMF said earlier this month that China's near-term economic outlook is positive, upgrading the expected growth rate for China 6.5 percent to 6.6 percent this year.

In addition to the IMF chief, British scholar John Ryan also has high expectations on China's economic role and the China-UK relations in terms of politics, trade, economy and security. Underlining the event's importance, Britain's new Prime Minister Theresa May has confirmed her attendance at the G20 Summit, which will be her debut⁵ at a major international conference since taking office.

In addition, Spanish professor Heinz Dieterich has also expressed his confidence, and said that he looks forward to China taking the lead in establishing a new order in the international economy.

With a theme of "Toward an innovative⁶, invigorated, interconnected and inclusive world economy," this year's G20 Summit will be held on September 4th and 5th in east China's city of Hangzhou. 

"Inclusive and interconnected development" is expected to be one of the key priorities to be discussed at the summit.

Issues such as employment and inclusive business, care for women, promoting innovation, and sustainable development in agriculture are also going to be discussed.

For CRI, I'm Huang Yue.

1 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

2 implemented   

v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效

参考例句：

• This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
• The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句

3 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

4 milestone   

n.里程碑；划时代的事件

参考例句：

• The film proved to be a milestone in the history of cinema.事实证明这部影片是电影史上的一个里程碑。
• I think this is a very important milestone in the relations between our two countries.我认为这是我们两国关系中一个十分重要的里程碑。

5 debut   

n.首次演出，初次露面

参考例句：

• That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
• The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

6 innovative   

adj.革新的，新颖的，富有革新精神的

参考例句：

• Discover an innovative way of marketing.发现一个创新的营销方式。
• He was one of the most creative and innovative engineers of his generation.他是他那代人当中最富创造性与革新精神的工程师之一。