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LI MIN / CHINA DAILY
The recent fourth plenary session of the Central Committee of the 19th Communist Party of China emphasized the importance of further opening up. In fact, China has always advocated further opening, as shown by the organization of the 2nd China International Import Expo. And not because of external pressure, but to achieve their goal of qualitative economic development and to share their development fruits with their trading partners.
It is true that the world economy has recovered to a certain extent from the global financial crisis. What is still missing, however, is a strong driving force that, together with differentiated growth, is hindering economic globalization. Not insignificantly affected by this, the Chinese economy has gradually entered a phase of medium growth.
Given the multiple pressures and challenges at home and abroad in the new era, China is taking steps to offset the effects of the protectionist and exclusionary policies of some developed economies. Upholding the banner of openness, cooperation, development and mutual benefit, China has become the main supporter of the multilateral trading system and an open world economy.
China has maintained medium-high growth in the new era and is changing its economic structure by gradually implementing supply-side structural reforms and modernizing its industries. A more open Chinese economy is not only the main stabilizing force and mainspring of global growth; it can also give more support to the multilateral trading system, with the World Trade Organization as its core, and help build a more open world economy.
As the largest developing country and the most important emerging market, China has taken the most sincere and inclusive approach to global growth and stands firmly by the side of the emerging and developing countries and becomes their friend and partner as well as the most ardent advocate and defender of multilateral trade and global economies.
Amid growing unilateralism and protectionism, China’s role in maintaining the multilateral trading system and building an open world economy is becoming increasingly important. It has thus moved into the focus of international attention, a source of trust and a motor for the global economy.
First, China remains a staunch advocate and defender of the multilateral trading system and an open world economy. Even though some countries have introduced unilateral trade, investment and financial policies out of self-interest, China continues to promote cooperation and openness, protect multilateralism and the global economic order, and continue to open up to help build an open world economy.
Second, China remains a major driver of the multilateral trading system and an open world economy. It has also become the largest trading partner of more than 120 countries and an important member of several important economic forums and trade and economic cooperation mechanisms. And the opening up of the Chinese economy to the outside world has created innumerable opportunities for other countries to share their development dividends, and has given the world economy new vitality since the global financial crisis.
Third, China remains a constructive force in reforming the world economic order. It advocates the necessary reforms of the WTO while ensuring that it retains its core role in the multilateral trading system by calling for a new round of quota adjustments and reform of the governance structure of the International Monetary Fund and the World Bank, and is working with other developing countries to reform promote constructive reforms in the world economic order.
In the process of securing globalization and promoting constructive reforms of the global economic and political system, China has helped to protect the legitimate rights and interests of developing countries and their developing areas.
China and other developing countries have had similar experiences and are pursuing an independent economic development policy. Especially since the beginning of the new era, China has embarked on a development path that corresponds to its current state in order to realize the Chinese dream of national rejuvenation, and to implement its development experience in other developing countries for research and when appropriate.
China will always be a natural partner to developing countries. In the new era it has offered more and better public goods to the international community, particularly developing countries, through the Belt and Road Initiative. And the continued efforts to open up further, as demonstrated by the two import fairs, have helped developing countries penetrate the Chinese market and share the dividends of economic development with China.
China will continue to represent developing countries on the international stage. And within the framework of global organizations such as the United Nations, the G20, the WTO, the World Bank and the IMF, it will continue to contribute to consolidating the unity between the developing countries, to support the implementation of the UN sustainability goals through the promotion of the BRICS group and other cooperation mechanisms for emerging economies and protecting the rights and interests of developing countries and their developing area.
The author is an Associate Professor at the School of Government and Director of the BRICS Cooperation Research Center at Beijing Normal University.
Views do not necessarily correspond to China Daily.