The Yomiuri Shimbun
China being tested over whether it will actually live up to G-20 accords
G20首脳宣言 中国の「有言実行」が問われる

It is essential to raise the growth potential of the global economy by steadily promoting structural reform and free trade, thereby putting the global economy on a sustainable recovery path.
構造改革や自由貿易の着実な推進によって、世界経済の成長力を底上げし、持続的な回復軌道に乗せねばならない。

The Group of 20 major economies wrapped up its summit meeting Monday after holding a two-day session in Hangzhou, China.
2日にわたって中国・杭州で開かれた主要20か国・地域(G20)首脳会議が閉幕した。

In a communique issued after the summit, the G-20 leaders warn that global growth is weaker than anticipated and that downside risks exist. The communique also mentions that all three policy tools of monetary and fiscal policies, and structural reform must be used separately or collectively.
首脳宣言で「世界経済の成長は期待よりも弱く、下方リスクが存在する」との危機感を表明した。金融政策、財政出動、構造改革の全てを「個別にまた総合的に活用する」とも明記している。

Given Britain’s decision to leave the European Union and the decline in the prices of resources, both advanced and emerging economies lack the power to serve as an engine for global economic growth.
英国の欧州連合(EU)離脱決定や資源価格の下落によって、先進国、新興国の双方とも成長の牽引けんいん力に欠けるのが現状だ。

The G-20 communique adhered to the agreements reached at the Ise-Shima Summit of the Group of Seven advanced nations hosted by Japan in May. It is highly significant that the G-20 economies, including emerging and oil-producing countries with different economic powers, have shared common views on the global economy.
首脳宣言は、先進7か国による5月の伊勢志摩サミットの合意を踏襲した。経済の実力が異なる新興国や産油国などを含むG20が認識を共有した意味は大きい。

The crucial point is for all G-20 countries to play their role.
肝心なのは、各国が役割をきっちりと果たすことである。

During the G-20 summit, Prime Minister Shinzo Abe said it was important for all the countries to demonstrate their commitment through concrete action. It was natural for him to make such a statement.
安倍首相が会議で「各国の具体的行動へとつなげていくことが重要だ」と発言したのは当然だ。

The key to reinvigorating the global economy is likely to be promotion of structural reforms to enhance productivity and boost growth.
世界経済の活性化へカギを握るのは、生産性を高めて成長を後押しする構造改革の推進だろう。

Japan has announced plans to reform ways of working, including correcting long working practices and realizing equal pay for equal work. Fulfillment of the Abenomics economic policy package will lead to realization of the G-20 agreements.
日本は、長時間労働の是正や同一労働同一賃金の実現など「働き方改革」を断行すると表明した。アベノミクスの履行がG20合意を実現することになる。

Key structural issue

The communique took up excessive production of steel and other products as a serious structural problem for the first time.
首脳宣言は初めて、深刻な構造問題として鉄鋼などの過剰生産を取り上げた。

The overproduction issue was triggered by China, which has kept protecting loss-making state-owned companies. There have been rampant increases in the number of these so-called zombie firms, which have actually gone bankrupt but have continued to be supported by the Chinese authorities, posing a risk to the global economy.
震源地は、不採算の国有企業を温存する中国である。実質的に破綻しながら当局が支え続ける「ゾンビ企業」が横行し、世界経済のリスク要因となっている。

It was agreed during the summit to set up an international framework to promote information-sharing in a bid to resolve the overproduction issue. Because China served as the host nation to work out the agreement, China will be required to carry out its commitments in deed.
会議では、過剰生産の解消に向けて情報共有を進める国際的な枠組みの設立で合意した。議長国としてまとめた以上、中国の「有言実行」が求められる。

As for free trade, which is indispensable to economic expansion, the G-20 agreed to reject all forms of protectionism.
経済の発展に不可欠な自由貿易については「あらゆる形態の保護主義への反対」で一致した。

In the United States, both the Republican and Democratic presidential nominees have expressed opposition to the Trans-Pacific Partnership free trade framework. In emerging economies, import restrictions to protect their domestic industries have been invoked one after another.
米国では大統領選候補がそろって環太平洋経済連携協定(TPP)への反対を表明している。新興国では、自国産業を守る輸入制限の発動が相次いでいる。

Signatories to the TPP agreement, including Japan and the United States, must promote early ratification of the accord while emerging economies must exercise self-restraint on excessive import restrictions. Each G-20 nation must work toward advancing free trade.
日米などTPP関係国は早期批准に取り組む。新興国は過度の輸入制限措置を自粛する。G20各国がそれぞれ、自由貿易を進展させなければならない。

A questionable point is that China guided G-20 discussions into concentrating on economic issues in a bid to avoid discussions over the South China Sea, where it has been building military strongholds. If China remains indifferent to regional stability, it is doubtful whether the country will fulfill its commitment to economic cooperation, too.
疑問なのは、中国が議論を経済に集中させ、自らが軍事拠点化を進める南シナ海問題の封印を図ったことだ。地域の安定から目をそらしたままでは、経済連携も実効性が疑われよう。

(From The Yomiuri Shimbun, Sept. 6, 2016)

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