As world leaders gather in Hangzhou on Sunday for a first-ever G20 Summit in China, scholars from NYU Shanghai have responded with stimulating insights on a broad range of pressing global concerns most likely to be raised during the convention.
As host for this year’s summit, China has highlighted innovation as the main theme. During the two-day conference, leaders from 20 industrialized and developing economies, including the United States, Japan, the European Union and BRICS countries, will seek to map out a new path for growth, as well as to continue improving global economic and financial architecture.
Ivan Willis Rasmussen, Visiting Assistant Professor of Political Science, reviewed China’s foreign policy shift from a non-aligned position in the early 1990s to increasing involvement in the international system.
“It is critical for China to get involved by hosting the G20 summit, for example, as the Chinese economy is extremely international -- we all know the ‘Made-In-China’ story,” Rasmussen said.
Also, check out Professor Rasmussen’s analysis on Brexit, and on geopolitical factors that have jeopardized global development, as well as on the future evolution of the G20 mechanism:
David Yu, Adjunct Professor of Finance at NYU Shanghai, sees the summit as an important opportunity for coordinating multilateral efforts to re-energize global economy.
“As the second largest economy in the word, China has to play a key role in facilitating collaboration between countries, as well as in encouraging innovation, given the slowdown of domestic growth,” Yu said.
Watch more of what Professor Yu has to say on China’s monetary policy and the practice of “green finance:”
Last but not least, Eliot Gattegno, Associate Professor of Practice of Business and Arts, shed light on China’s robust push for innovation and entrepreneurialship, a nationwide campaign that echoes the theme of this year’s summit.
“The policies that I know of are quite recent. Like any venture capital funds, it is still too early to tell,” Gattegno said.
“However, having a high influx of risk capital certainly motivates people to try new things, which is great. Hopefully, it will gradually trickle down to the rest of the world,” he added.
Find out Professor Gattegno’s take on the potential of China, especially Shanghai, to grow into an international hub of innovation and creativity:
* Established in 1999, G20 is a forum that brings together 20 systemically important industrialized and developing economies to discuss key issues in the global economy and to promote cooperation. The G20 Leaders’ Summit was created in 2008 and played a key role in tackling the widespread financial recession.
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