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Ambassador’s Spherical Desk: Globalization Obligatory for World Commerce and Financial Restoration

Economic

Ambassador’s Spherical Desk: Globalization Obligatory for World Commerce and Financial Restoration

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The photo from November 12, 2020 shows a view of the ambassador’s round table during the sixth China and Globalization Forum. [Photo courtesy of Center for China & Globalization]

The sixth China and Globalization Forum opened in Beijing on Wednesday. During the two-day forum, foreign ambassadors in China offered their individual insights into global trade trends and prospects for economic recovery at the ambassador’s round table.

Rahamtalla M. Osman, African Union representative in China, focused on how economic globalization could promote world trade development and recovery, and lift more people out of poverty. However, as globalization faced many obstacles and the current international trading system was damaging the interests of less developed countries, it was important to create an environment for fairer competition.

Nicolas Chapuis, EU ambassador to China, emphasized the importance of continuous openness in world trade. “For the EU, 85% of the growth in the next 10 years will be related to foreign trade, and we have to network all partners,” otherwise the EU is “in danger,” said Chapuis.

Luca Ferrari, Italian Ambassador to China, commented: “I think we can agree at this table that the COVID-19 pandemic was the second ‘black swan’ in our century to threaten globalization. Most economic recovery will only be possible on the basis of globalization. ”

WTO authority and adequate international consensus should also be developed to level the playing field at bilateral and global levels, he added.

Given that the COVID-19 epidemic had caused the rise in unilateralism and political tensions, Laurent Bili, the French ambassador, suggested directing capital to less developed countries to foster global economic recovery and the Ensure access to vaccines for all countries.

Wim Geerts, Dutch Ambassador to China, praised its integration into the global economy and the resulting benefits for China and the rest of the world.

“We want to work with China to deepen our economic cooperation in order to master the major challenges of our time – food security, health, the circular economy and the energy transition – in the fight against climate change,” said Geerts.

With a view to the necessity and urgency of the WTO reform, Geerts said: “It is more important than ever that large traders in the world take their responsibility for the proper functioning of the (trading) system multilateral trading system, in which conflicts are fair and transparent Can be resolved under the WTO. “

Luis Diego Monsalve, Colombian Ambassador to China, commented that Latin America, as one of the regions hardest hit by the COVID-19 pandemic in both healthcare and economy, needs a range of cooperation measures, trade openness and technological investment.

Therefore, the region should not be forced to choose either side, but rather remain open to all options offered by its major trading partners, including China, the US and the EU

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