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Globalisation has powered economic growth in developing countries such as China. Global logistics, low domestic production costs, and strong consumer demand have let the country develop strong export-based manufacturing, making the country the workshop of the world.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

My guiding principle is that prosperity can be shared. We can create wealth together. The global economy is not a zero-sum game.

It is absolutely clear that government plays a key role, as a catalyst, in promoting long-run growth.

The G8 nations, together with the five major emerging economies of China, India, South Africa, Brazil, Mexico, use almost three-quarters of the Earth's biocapacity - the capacity of the world's ecosystems to produce natural resources and to reduce harmful substances.

Economic growth must be the central issue because it is only through growth that the devastating threat of national bankruptcy can be averted. Furthermore, it is only by reviving American economic growth that the West's global predominance can be sustained, and peace and freedom kept secure around the world.

Globalisation means that for a high-wage, developed economy like Britain's to compete we need to focus our efforts on the highly skilled, added-value sectors such as advanced manufacturing, creative industries, engineering and even financial services.

We're grappling with the same issue facing all advanced economies - how to revive growth and distribute its fruits more fairly. An America that can tackle that problem head-on can perhaps help revive a stagnant global economy.

A successful economic development strategy must focus on improving the skills of the area's workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in today's global economy.

The growth that we want is one that brings real benefits to the people, raises quality and efficiency of development, and contributes to energy conservation and environmental protection.