China calls for building open global economy in post-COVID world

23:40

The World Economic Forum (WEF) Global Risks Report has warned that economic stagnation is the most serious challenge to persist since the COVID-19 pandemic. However, China is injecting confidence into the global economy with official data released on Monday showing its economy recorded stable growth in 2021.

How has the world’s second-largest economy achieved growth despite challenges such as sporadic outbreaks and a complicated external environment?

Building an open global economy, embracing anti-pandemic cooperation and revitalizing global development – the three aspects highlighted in Chinese President Xi Jinping’s speech during Monday’s virtual WEF session – are clues to the response, as well as solutions to other major global challenges.

How to promote a steady recovery of the global economy?

To promote steady and solid progress in global economic recovery, Xi said countries should explore new engines of economic growth, new ways of social living and new avenues for people-to-people exchanges.

“We need to break down barriers, not build walls. We need to open, not close. We need to seek integration, not decoupling. This is how we can build an open global economy,” he said. declared.

Major economies should view the world as one community and increase policy transparency, major developed countries should adopt responsible economic policies and manage political fallout, and international economic and financial institutions should play their constructive role in preventing risks systemic, he added.

Xi also stressed building generally acceptable and effective rules for artificial intelligence and the digital economy, and creating an open, fair and non-discriminatory environment for scientific and technological innovation.

Regarding China’s role and efforts in the process, he said the country will pursue high-quality development, stick to reform and opening up, and welcome all types of capital to operate in China to to play a positive role in the development of the country. .

“We have every confidence in the future of the Chinese economy,” he said, stressing the strong resilience, huge potential and long-term sustainability of the Chinese economy.

Meanwhile, he stressed that China will not develop its economy at the cost of resource depletion and environmental degradation, and will keep its word to achieve peak carbon and carbon neutrality.

How to defeat the pandemic?

“Strong trust and cooperation is the only right way to defeat the pandemic,” he said, outlining the solution.

Countries should cooperate in drug research and development and “fully exploit vaccines as a powerful weapon”, he said, stressing the need to ensure equitable distribution of vaccines, accelerate vaccination and close the gap. worldwide in immunization.

China will provide an additional 1 billion doses to African countries, including 600 million doses as donations, and donate 150 million doses to members of the Association of Southeast Asian Nations, it said. -he announces.

How to promote global development?

The Global Development Initiative is a public good open to the whole world, and China is ready to work with other countries to jointly realize the initiative, Xi said, calling for efforts to bridge the development gap. and revitalize global development.

He proposed the initiative – which highlights the direction of global development towards a new stage of balanced, coordinated and inclusive growth in the face of the severe shocks of the COVID-19 pandemic – in September 2021.

Protectionism, unilateralism and practices of hegemony and intimidation “go against the tide of history”, he warned.

“The right path for mankind to follow is peaceful development and win-win cooperation,” he said.

Jennifer C. Burleigh