Full coverage: G20 Hangzhou Summit

Chinese President Xi Jinping’s speech closing out the G20 meeting has drawn worldwide attention. The Chinese leader spoke on remedies and actions to improve world economy. Dr. Michael Borchmann, an international affairs expert and former government official from Germany, shared his point of view on President Xi’s speech.  Dr. Borchmann is also an honorary adviser to the Chinese Commerce Ministry.

"More innovation for recovery, and this also is a very big point. You know Germany has not many natural resources, so the success of our economy especially for our small and medium sized enterprises is innovation. Without innovation, we cannot economically survive. So innovation is the key word for good economic development," Dr. Michael Borchmann said.