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China’s ideals benefit world


Source: Global Times    Published: 2017-7-11


China`s major policies in the past five years have not only driven the development of the country but also offered a solution to the issues of world development and global governance, while contributing to peace and prosperity, Chinese experts said.

"One of the features of China`s development after the 18th National Congress of the Communist Party of China (CPC) [in 2012] is innovation. China has put forward a series of new concepts and strategies for development, which have not only served as great engines for China`s development, but also offer a solution to global governance," according to an article titled "China`s ideas have earned global recognition," published Monday in the People`s Daily Overseas Edition.

The article listed three key phrases which have drawn international attention in recent years - "Chinese dream," "Belt and Road initiative" and "a community of shared future for mankind."

"The three ideas complement each other and are evolving. They show that China is not only concentrating on its own development, but also wants to share its achievements and experience for the benefit of the whole world," Liu Zhiqin, a senior fellow at the Chongyang Institute for Financial Studies at the Renmin University of China, told the Global Times on Monday.

Liu said that the "Chinese dream," which is a detailed and long-term goal for China to develop from a big economy to a great economic power, is meaningful for the whole world, since it would make 1.4 billion people live a happy life.

Xi Jinping, general secretary of the CPC Central Committee, first initiated the phrase in November 2012, and has spoken about it on many occasions over the past five years.

"The Chinese dream is, after all, a dream of the people," Xi said in a speech during his visit to the US in September 2015. "We can fulfill the Chinese dream only when we link it with our people`s yearning for a better life," Xi said, the Xinhua News Agency reported.

"The Belt and Road initiative is China`s concrete plan to connect the whole world. Under the initiative, more developing countries could use Chinese technologies and investments for their own infrastructure. Only with joint development will it be possible to create a community of a shared future for mankind," Liu told the Global Times.

China also started the Asian Infrastructure Investment Bank to offer financial support and put forward the Free Trade Area of the Asia-Pacific (FTAAP) to construct a new open economic system, which will contribute to the construction of a community of a shared future, said Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

Delivering a keynote speech at the Asia-Pacific Economic Cooperation CEO Summit in November 2016, Xi called for concerted efforts to advance the construction of the FTAAP, noting that it is a strategic choice concerning the long-term prosperity of the region.

"The key to global governance is to balance a nation`s core interest and the Chinese plans could help find the shared and balancing point," Liu said, noting that the G20 summit in Hamburg focused on global free trade, which is in accordance with China`s long-standing advocacy.

"The series of Chinese plans encourages freedom by promoting free trade and competition based on fair benefits when the world economy has suffered weak growth," said Mei Xinyu, an associate researcher at the Chinese Academy of International Trade and Economic Cooperation.

Making the cake bigger

"Aside from economic development, China`s plans have also helped strengthen political stability in developing countries by reducing poverty and instability. It has always focused on shared benefits over differences, which could help countries control disputes and work together to make the cake bigger," Bai said.

Bai noted that the way for China to deal with the South China Sea issue has set an example on stabilizing regional situations by emphasizing cooperation and controlling disputes.

The unfairness caused by globalization has been a source of disputes and complaints, and has given rise to the anti-globalization trend. Therefore, China hopes to build an upgraded globalization - fairer, mutually beneficial and more compatible, Bai said, adding that the idea fits into what President Xi has called a community of shared benefits, destiny and responsibility.


Liu Zhiqin is a senior fellow of the Chongyang Institute for Financial Studies at the Renmin University of China.

Key Words: Belt and Road   development   investment  

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