China yesterday called on developed countries to back up developing countries' efforts to foster open and just world trade.
President Hu Jintao, together with heads of state from India, Brazil, Mexico and South Africa, joined in calling for more consideration for developing countries.
At the outreach session of the G8 summit with leaders of the five major developing countries, Hu said: "Together, we (G8+5) account for about 75 percent of the global economy. We can do a great service to the balanced and sustained development of the world economy if we do a good job with our own economies."
"To this end, we should commit ourselves to adopting effective fiscal and monetary policies, readjusting our economic structures and promoting balanced and sustained development of the world economy," Hu said.
This G8 Summit, featuring Britain, Canada, France, Germany, Italy, Japan, the United States and Russia is focused on the world economy and global climate change.
Leaders have agreed on the text of a communique on combating global warming, German negotiator Bernd Pfaffenbach told reporters.
He said they had agreed to try to reduce greenhouse gases by promoting cleaner technology and energy efficiency. No specific targets were mentioned in the text.
This is the second time Hu has been invited to participate in G8 dialogue since 2003.
Leaders of the five developing states welcomed a decision adopted by G8 finance ministers to promote further debt relief for a number of the world's poorest countries.
Some observers say Hu's attendance indicates that developed industrial countries increasingly recognize China's influence on the world economy.
"China needs the G8 and the G8 needs China," said Shen Jiru with the Institute of World Economics and Politics under the Chinese Academy of Social Sciences.
With increasing new threats and challenges to world relations, such as regional security and economic integration, it is impossible for any country to deal with those problems independently, Shen added.
He expressed belief that an expanding dialogue between G8 and developing countries would become the norm. "It is hard to see how the international community can deal with major world issues without involving influential developing countries like China," Shen said.
On the sidelines of the summit, Hu also met with British Prime Minister Tony Blair, German Chancellor Gerhard Schroeder and French President Jacques Chirac.
They exchanged views on Sino-EU relations, and more sensitive issues including Europe's 16-year arms embargo on China, and the possible granting to China of full market economy status.
(China Daily July 8, 2005)
