China to defend interests of emerging economies at G20 summit: Argentine expert

China will defend the interests of the emerging economies at a Group of 20 (G20) summit, an Argentine expert has said.

China understands that its own development is closely linked to the progress of its partners, even small countries, Gustavo Girado, director of the Asia and Argentina Consultancy, told Xinhua.

Girado made the remarks in the context that a G20 summit is to be held in Hangzhou, China, in September.

"China cannot prosper and improve its way of life if its partners are having trouble on international markets, or if their economies are vulnerable to actions from the most powerful countries," he explained.

Girado mentioned the negative impact of the monetary policies of the developed countries on developing counterparts but showed his confidence in new global organizations including BRICS, which groups Brazil, Russia, India, China and South Africa.

BRICS, which stands more for the interests of emerging markets, will contribute to the reform of the global governance system, Girado said.

In a bid to finance infrastructure and sustainable development projects in BRICS and other emerging countries, the New Development Bank (NDB) was set up as a much-needed supplement to the existing West-dominated global funding system.

"The establishment of the NDB will be a strong mechanism to fight restrictions being placed on many countries in the world," said Girado.

Currently, many countries have suffered from falling prices of their traditional commodity exports, among whom many are developing ones.

The situation, said Girado, has made it necessary for countries like BRICS to boost their strong internal markets and speak in one voice.

Scheduled for Sept. 4-5, the Hangzhou summit will be the first in China. Endi