Saturday 23 July 2016

What does China want from other countries in the G20 meeting?

The Chinese finance minister said that the G20 countries should redouble their effects to boost the shared growth and make their monetary policy more transparent. From his words, we can see that China wants its currency to depreciate in order to boost its exports, so we may come to this conclusion that in the future decade China will put a lot of effort to maintain its global manufacturer position. The falling global trading worries China a lot that it urges other G20 countries to cooperate together to boost the trading volumes. Domestically the Chinese economic growth also depends on the government investment that it has been investing trillions RMBs into infrastructures. Moreover, the Chinese government has put a lot of effort into improving its environmental condition, such as reducing coal production. This leads to that the solar industry is growing rapidly in China and in the next few years, the international big solar firms will face greater competition from the Chinese companies. China also sends a signal to other countries that all G20 countries should work together to improve the environmental statement. If this can happen, it can expand the solar market for the Chinese companies as well.

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