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G20 expected to seek unity in fighting COVID-19, says expert

(Xinhua)    10:32, November 22, 2020

NUR-SULTAN, Nov. 21 (Xinhua) -- The Group of 20 (G20) remains a key platform that brings together the world's leading economies in search of joint solutions to fighting COVID-19, overcoming its socio-economic fallout, and addressing other acute global problems, a Kazakh expert has told Xinhua.

The first virtual meeting of the G20 this year, convened urgently in March, focused on finding a coordinated response to the pandemic, said Lydia Parkhomchik, a Kazakh scholar at the Institute of the World Economy and Politics under the Foundation of the First President of Kazakhstan.

According to a recent G20 statement, the group has already allocated more than 21 billion U.S. dollars to fight the pandemic, including the research and development of vaccines, and 11 trillion dollars to bolster the global economy, she said.

"However, current forecasts of international agencies show that overcoming the crisis may require much greater financial resources," said the expert, who called for more cooperation and solidarity among G20 countries to win a victory over the coronavirus and prevent a global depression.

Preserving coherence and unity among the entire world community and avoiding the fragmentation of the world economy are key to dealing with the crisis and have become more relevant than ever before, Parkhomchik said.

The problems to be discussed at the G20 summit are relevant for all states across Eurasia, including Kazakhstan, the expert said.

As Kazakhstan has deeply integrated into the global economy, "decisions taken at the summit will have a direct impact on the development of the Kazakh economy in the short and medium term," Parkhomchik added.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: He Zhuoyan, Bianji)

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