Chinese President Xi Jinping said countries should join forces in stopping the world from entering a recession due to the coronavirus outbreak, reported Reuters.
“The epidemic has hit global production and demand in every way, and countries need to leverage and coordinate their macro policies and prevent the world economy from falling into recession,” Xi said in remarks at an extraordinary summit of G20 world leaders on the COVID-19 pandemic held via video link.
“Fiscal and monetary policies must be implemented effectively, coordination of financial regulations must be strengthened, and (countries) have to work jointly to safeguard the stability of the global industrial supply chain.”
He also urged China’s fellow G20 member nations to cut tariffs, remove barriers and facilitate trade, Chinese state media reported. China will step up imports and increase foreign investment, while continuing to implement a pro-active fiscal policy and prudent monetary policy, Xi said.