Take ventilators as an example. A commercial ventilator is composed of around 1,500 parts supplied by more than a dozen countries. To ramp up production of the life-saving machines, the countries involved must work together.
This means that G20 economies in the face of the pandemic should hold together the reeling global industrial and supply chains, and guarantee a smooth flow of such key trade items as medical supplies and agricultural products.
Another task is to lay a rock solid foundation for future growth in the post-pandemic world through well coordinated financial relief plans and recovery blueprints.
During the March summit, G20 nations pledged 5 trillion U.S. dollars to spur global economic recovery from the pandemic, and promised to "continue to conduct bold and large-scale fiscal support."
It is also essential to make sure that the world's heavily indebted countries will not be submerged financially. Thus G20 countries should follow through with their Debt Service Suspension Initiative so that those nations are supported in their efforts to protect lives and alleviate the economic and financial crises resulting from the COVID-19 pandemic.
Meanwhile, the group should work with the IMF, the World Bank and other multilateral financial bodies to allocate resources and raise additional funds to fight the pandemic, inject abundant liquidity into the global marketplace, and foster confidence in this very moment of uncertainty and fear.
【国际英语资讯:Commentary: G20 has vital leading role in moment of dual global crises】相关文章:
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