G20 Country China: Economic Behemoth With Complicated Bilateral Relationships
China hosted the eleventh summit, and its role within the group is pivotal, with the world closely watching how it shapes the G20 agenda and contributes to global economic stability.
President: Xi Jinping
- Xi Jinping was elected as China’s president in 2013 and holds a firm grip on the country’s only political party. In 2018, China approved the removal of the two-term limit on the presidency, effectively allowing Xi to remain in power for life.
China has been a full member of the Group of Twenty (G20) since the bloc was formed in 1999 in the wake of the financial crisis that hit East Asia and Southeast Asia in 1997. China is also a member of the BRICS apart from the G20. Officially known as the People's Republic of China, the country holds a prominent position within the G20. Known for its rich history and vast landscapes, China has over time emerged as a global superpower shaping the dynamics of the G20 and the world at large. China's ascent within the G20 reflects its growing influence on the world stage, despite the challenges including geopolitical tensions, deteriorating bilateral relations, growing environmental footprint, income inequality, and trade challenges.
China's role within the G20 is pivotal, with the world closely watching how it shapes the G20 agenda and contributes to global economic stability.
It hosted the eleventh G20 Summit, held at Hangzhou on September 4-5, 2016, after taking over the presidency on December 1, 2015. The agendas for the Hangzhou Summit were drawn up by the Troika countries — Turkey (2015 chair), China (2016 chair), and Germany (2017 chair).
At the summit in Hangzhou (China), the focus was on strengthening long-term inclusive growth of the global economy. It also looked at linking sustainable growth and social welfare. Digital economy as an important driver of development and growth became part of the G20 agenda for the first time during China’s presidency in 2016. G20 leaders also adopted the ‘G20 Action Plan on 2030 Agenda for Sustainable Development’, which has since then become the guiding document for G20’s work on the ‘sustainable development’.
Apart from the G20 members, eight invitee countries Chad, Egypt, Kazakhstan, Laos, Senegal, Singapore, Spain, Thailand, and heads of seven international organisations — UN, World Bank, IMF, FSB, OECD, WTO, ILO — participated in the 2016 summit.
The 2016 G20 joint statement stated that the group held extensive discussions on four key agenda items: breaking a new path for growth, more effective and efficient global economic and financial governance, robust international trade and investment, and inclusive and interconnected development. At the summit, the G20 leaders vowed to foster an innovative, invigorated, interconnected and inclusive world economy to usher in a new era of global growth and sustainable development, taking into account the 2030 Agenda for Sustainable Development, the Addis Ababa Action Agenda and the Paris Agreement.
Besides, the leaders also decided to address supply-side constraints so as to raise productivity sustainably, expand the frontier of production and unleash mid- to long-term growth potential. The group agreed on setting up a G20 Task Force supported by the OECD and other relevant international organisations to take forward the G20 agenda on innovation, new industrial revolution and digital economy, subject to the priorities of the respective future G20 presidencies, ensuring continuity and consistency with the results so far, and promoting synergies with other G20 workstreams.
China has been elevating its position as a major global player with significant economic and geopolitical influence. However, its relationships with other members have often led to grave concerns. China’s border tussle with India, trade war with the US, and its actions in the South-China Sea, Taiwan have remained under the scanner.
Chinese President Xi Jinping attended the 2022 G20 summit, held in Indonesia. However, reports suggest he is unlikely to attend the summit in New Delhi. Chinese Foreign Ministry confirmed that country's Premier Li Qiang will represent China at the meet.
China and the other 19 G20 members represent 65 per cent of the world population, 75 per cent of global trade, and account for around 85 per cent of the world GDP.
The other members of the G20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US, and the European Union.
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