2016年CRI G20 Meeting Wraps up in Shanghai

 

At a press conference on Saturday afternoon, China's finance minister Lou Jiwei says financial policymakers have pledged to use all policy tools to strengthen the global recovery.

"We agree to adopt all policy tools - fiscal¹, monetary², structural³ - to counter risks, foster confidence and strengthen growth. Meanwhile we will use fiscal policies flexibly to counter economic risks and ensure the debt share percentage of GDP is on a sustainable path."

The policymakers have cited volatile⁴ capital flows, slumping⁵ commodity prices, and escalating⁶ geopolitical tensions as some of the major vulnerabilities in the global economy.

Despite the challenges, the group has determined⁷ that the extent of the recent market volatility⁸ does not reflect the underlying⁹ fundamentals of the global economy.

Christine Lagarde, managing director of the International Monetary Fund, has stressed the importance of collective action.

"Our conclusion, which I shared with the members of the G20, is that without collective deliberate action on the part of policy members, and implementation¹¹, the risk, there is a risk that the recovery could derail. So my sense is that there was in the room, a renewed sense of urgency, and a renewed sense for collective action."

A communique issued after the two-day meeting has reaffirmed the group's previous commitments on the exchange rate mechanism¹².

It says the group will refrain from competitive devaluations and will not target the exchange rates for competitive purposes.

The group has also pledged to carefully calibrate¹⁴ macroeconomic policies to reduce uncertainty¹⁵, minimize negative spillovers and promote transparency.

As such, U.S. Treasury¹⁶ Secretary Jack¹⁷ Lew says commitment and communication are key to conducting successful policies for G20 members.

"It's important that in this communiqué that there's an additional commitment to consult, and that means that it's a commitment that we'll keep each other informed, and we'll avoid surprising each other, because that's what you do when you want to try and conduct policies in an orderly way, in a way that's reassuring¹⁸. So I think it's actually quite important that that language is in the communiqué."

He says the United States believes China has the necessary tools including fiscal policies to support household demand, and the ability to succeed in its economic transition.

During the meeting, the economies also promised to fully¹³ implement¹⁰ agreed financial reforms, combat terrorist financing and mobilize green finance.

The G20 Finance Ministers and Central Bank Governors Meeting came in advance of the G20 Hangzhou Summit, which is slated¹⁹ for Sept. 4 and 5 with a theme of "Towards an Innovative²⁰, Invigorated, Interconnected and Inclusive World Economy".

For CRI, I'm Fei Fei.

1 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

2 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。

3 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

4 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

5 slumping   

大幅度下降，暴跌( slump的现在分词 )； 沉重或突然地落下[倒下]

参考例句：

• Hong Kong's slumping economy also caused a rise in bankruptcy applications. 香港经济低迷，破产申请个案随之上升。
• And as with slumping, over-arching can also be a simple postural habit. 就像弯腰驼背，过度挺直也可能只是一种习惯性姿势。

6 escalating   

v.（使）逐步升级( escalate的现在分词 )；（使）逐步扩大；（使）更高；（使）更大

参考例句：

• The cost of living is escalating. 生活费用在迅速上涨。 来自《简明英汉词典》
• The cost of living is escalating in the country. 这个国家的生活费用在上涨。 来自辞典例句

7 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

8 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

9 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。

10 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

11 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

12 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

13 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

14 calibrate   

校准；使合标准；测量（枪的）口径

参考例句：

• Pesticide levels in food are simply too difficult to calibrate.食品中杀虫剂的含量很难精确测定。

15 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

16 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

17 jack   

n.插座，千斤顶，男人；v.抬起，提醒，扛举；n.（Jake）杰克

参考例句：

• I am looking for the headphone jack.我正在找寻头戴式耳机插孔。
• He lifted the car with a jack to change the flat tyre.他用千斤顶把车顶起来换下瘪轮胎。

18 reassuring   

a.使人消除恐惧和疑虑的，使人放心的

参考例句：

• He gave her a reassuring pat on the shoulder. 他轻拍了一下她的肩膀让她放心。
• With a reassuring pat on her arm, he left. 他鼓励地拍了拍她的手臂就离开了。

19 slated   

用石板瓦盖( slate的过去式和过去分词 )

参考例句：

• Yuki is working up an in-home phonics program slated for Thursdays, and I'm drilling her on English conversation at dinnertime. Yuki每周四还有一次家庭语音课。我在晚餐时训练她的英语口语。
• Bromfield was slated to become U.S. Secretary of Agriculture. 布罗姆菲尔德被提名为美国农业部长。

20 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。