Kerry Brown, professor of Chinese Studies and director of the Lau China Institute at King's College, London. [Photo provided to China Daily]

Xi's speech promotes the idea that engaging with China's domestic growth agenda is something that every major economy should be interested in doing.

Searching for new sources of growth is a global imperative now. Developed countries have been mired in low GDP growth since 2008, and even China's growth rate is slowing. There is the chance for a new kind of compact between China and other countries in this hunt for new growth something that links the hunger for a more service sector orientated, high consuming model within China with better quality trading and economic relations with the rest of the world.