China has contributed greatly to global prosperity

By Toumert AI

October 1 this year will mark the 70th anniversary of the founding of the People’s Republic of China. In a matter of seven decades, China has evolved from a third-world country, devastated by two world wars, to an emerging power. It is a strong economy and a beacon of hope that is stabilizing global economic order, acting as a defender of a multipolar world, exercising its sovereign rights without external influences, and bringing about new institutions to spur economic growth.

China as a culture, civilization and nation has had an extraordinary global footprint. It is engaged in every continent and today, the Chinese language is part of primary school education systems in countries including many in Europe and North America.

However, to understand more clearly how China is contributing to a better world and the concept of a shared destiny, we can look at its global influence - policies that have been consistent since 1949 and have proven China’s concern for global prosperity and peace.

When China officially began its foreign aid in 1950s, the majority of countries receiving aid at the time were Africans. Between 1970 and 1975, China provided an interest-free loan for the construction of the Tanzania-Zambia railways.

The loan was an extraordinary financial gesture from China, which had just begun building its own economy at the time. During the same period, China also financed several other projects such as football stadiums, public buildings and health missions that still have an impact on African citizens today.

With this newfound strategic partnership, China and African countries established the Forum on China-Africa Cooperation in 2000.

Today, with $60 billion dedicated to African development, China has steadily demonstrated that it has one policy and one vision, and has kept its promises to African countries. This policy of prosperity did not stop at Africa - we can see it also in Latin America.

By bringing Brazil, the powerhouse of Latin America, to the BRICS platform, China made it clear that South America is a strategic partner for South-South Cooperation.

As a result, the commerce between China and Latin American nations has been steadily growing.

In only 20 years, China became the second-largest trading partner of Latin America.

China is a major market for soybeans from Brazil. Brazil is followed closely by Peru, Argentina, Venezuela and Mexico in this regard.

Additionally, China is now the main source of international credit lines for Ecuador, Venezuela and Argentina, and China’s economic developmental banks invest more in Latin America than the World Bank and the Inter-American Development Bank.

The support that China has committed to the region has allowed many Latin American states to flourish economically.

Another aspect of China’s active role in supporting global prosperity over the last 70 years is its contribution to achieving the United Nation’s Millennium Development Goals (MDG).

When the MDG were established in 2000, China was already on the path to succeed in bringing the largest population in the world back from the brink of poverty.

The Communist Party of China constructed the country to become the second-largest economy in the world, and lifted over 800 million people from poverty, transforming its status to global consumer.

China was given an important role in the MDG program, particularly after the 2012 and 2013 summits in Kunming and Beijing. China’s accomplishments, experience as a beneficiary of developmental aid and its expanding role as a provider of developmental assistance to other developing countries assured its role.

China is now the sixth-largest contributor to the UN budget, the 11th-largest contributor to UN peacekeeping operations and is a party to more than 5,000 international treaties.

China has focused on building its economy and providing sound policies over the last 70 years to establish a strong, stable country and a unique growth model.

However, it did not forget its role in international affairs or its commitment to building a shared destiny, and we have 70 years of achievement to prove it.

Source：Global Times

Celebrating the 70th Anniversary of the Founding of New China, Lujiazui Roundabout Flowerbed Completed. (Photo by Xu Wanglin from People’s Daily Online)