China brings even brighter prospects for global development
By Ren Huanyu, People’s Daily
Ten years after the 2008 international financial
crisis, the global economy has again reached a crossroads. World economic
growth remains sluggish, and economic globalization is encountering headwinds. Besides,
trade and investment tensions are on the rise, placing impacts on the global
industry landscape and financial stability, and dampening the confidence of
international investors.
More than ever, the world needs to uphold and
champion multilateralism. Facing such situation, China is offering convincing
and effective plans.
In the first half of 2019, Chinese President Xi Jinping
attended three major diplomatic events at home and five international
conferences, and made seven trips to foreign countries for state visits.
By grasping the general trend of development and
focusing on the future of the world, the Chinese schemes offered by the Chinese
President are injecting confidence to the global community and charting the
course for world economy and global governance.
China’s achievements have strengthened confidence
for the world economy. According to country’s half-year economic statistics of
2019 released recently, its GDP exceeded 45 trillion yuan (about
$6.6 trillion), up 6.3 percent year-on-year. The growth was among the fastest
in major economies.
Such economic performance soon became a hot topic
for global media. China is building a more robust, a more diversified economy, said
CNBC.
The Chinese economy not only has maintained
stability while making progress, but also is enjoying great potential,
resilience and flexibility. It contributed over 30 percent to the world
economic growth.
The world will do well when China does well. As the
country maintains steady growth, its role as an anchor and engine for the whole
world economy will become more prominent.
China’s solutions are guiding high-quality
development. In response to the root causes of imbalanced, uncoordinated and
unsustainable development in the world economy, Xi prescribed a solution of working
together to build a high-quality world economy.
The second Belt and Road Forum for International
Cooperation (BRF) started a new journey of high-quality development of Belt and
Road cooperation. China has also taken a series of concrete measures including
encouraging third-party cooperation, trilateral cooperation, and cooperation
between the government and private capital, which further highlighted the inclusiveness
and balance of development.
These measures have not only effectively activated
the resources of developed countries, but also encouraged more developing
countries and small and medium-sized enterprises to integrate into the global
supply chain, industry chain and value chain, so that all parties concerned can
benefit from international trade and investment.
More and more developed economies and international
organizations are joining the Belt and Road cooperation under a variety of
cooperation models. As a result, the path for the Belt and Road will inevitably
become wider and the cake of mutual benefit will become bigger.
At the G20 Osaka Summit, President Xi called on all
parties to work together to build a high-quality world economy, persist in
reform and innovation to find more impetus for growth, and progress with the
times and improve global governance. He also asked all parties to rise up to
challenges and break bottlenecks in development, and uphold partnership and
resolve differences properly.
In pursuing high-quality development, all countries
should resolve the common challenges, rise above geographic and man-made
fences, and accommodate both immediate and long-term needs, so as to chart the
course for overcoming challenges facing the world economy and have more people
share the fruits of innovation and development.
Chinese wisdom is recalibrating the direction of
global governance. “The history of human society is marked by a transition from
isolation and exclusion to openness and integration. This is an unstoppable
trend,” Xi said.
As a staunch advocate and defender of economic
globalization, China actively encourages all parties to promote multilateralism
and free trade.
In March, President Xi and European leaders
discussed cooperation in global affairs, pooling strength for multilateralism. In
June, Xi and the heads of state of Russia, Kyrgyzstan and Tajikistan strengthened
the top-level design and outlined specific arrangements. They further
consolidated the alignment of development strategies between China and Belt and
Road countries, mapping out a blueprint for win-win cooperation in the new era.
At the historical juncture of the changing and
complex international situation, President Xi made dialogue and discussions at the
G20 Osaka Summit more cooperative, inclusive and win-win.
He called on all parties to base themselves on common interests and focus on
long-term development.
“We must not allow ourselves to become prisoners of
short-term interests and make irrevocable mistakes of historic consequences.”
Xi’s remarks have been well received inside and outside the venue of the
summit. To advocate and practice multilateralism has become a consensus and common
aspiration of most countries in the world.
China’s actions are creating opportunities for common
prosperity. “A more open China will further integrate itself into the world and
deliver greater progress and prosperity for both China and the world at large,”
Xi said at the second BRF.
Especially in the current world when protectionism
and unilateralism continue to impact multilateral cooperation, China, as the
largest trading partner of more than 100 economies in the world, continues to
expand opening-up, deepen reforms, enhance trade and investment liberalization
and facilitation, and build an open world economy.
To this end, more will be done to open up the
Chinese market wider. Greater initiative will be demonstrated in expanding
imports. More steps will be taken to improve the business environment. Equal
treatment will be extended to all foreign investment. Greater efforts will be
made to advance trade talks.
With such confident proposals, China is putting into
practice its commitment that its door of opening-up will not be closed and will
only open even wider. These proposals also demonstrate the global vision of
China to synergize its own development with the common development of the
world.
“We, as the leaders of major economies, are duty
bound to re-calibrate the direction of the world economy and global governance
at this critical juncture, work together to boost market confidence, and bring
hope to our people.”
Chinese
President Xi’s remarks on global economy and trade at the G20 Osaka Summit are still resonating. The vision of the
Chinese leader and the sense of responsibility of the major country are staunch
forces to ensure that the ship of the global economy will finally sail to a
brighter future.
China
will open up further to embrace opportunities of development and seek win-win
outcomes through closer cooperation. It will work with other countries in the
world to promote an upright and clean environment for international cooperation,
bring even brighter prospects for global development, and make unremitting
efforts to boost lasting prosperity of the world economy.
China brings even brighter prospects for global development
Reviewed by PEOPLES MAIL
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