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Fairness and inclusiveness: China opens up world economy

Editor: Li Kun 丨CCTV.com

11-17-2015 17:29 BJT

By Wang Yuhang, Wu Qiong G20-BFSU Center, Beijing Foreign Studies University

The tenth summit of the Group of Twenty (G20) themed, "collective action for inclusive and robust growth" was held on Nov. 15 in Antalya, Turkey. Chinese President Xi Jinping delivered a speech, "innovating growth path and sharing development achievements."

 

He said the G20 accounts for around 85 percent of global GDP and 80 percent of world trade and its members should make joint efforts to construct an open world economy to achieve fair, open, inclusive and comprehensive development.

Currently, most economic entities are stuck in a growth bottleneck. The economic recovery of the United States and Federal Reserve interest rate hikes' expectations have aroused complaints from the emerging markets.

Additionally, commodities prices continue to fall, while the Russian and Brazilian economies have worsened. As the world's second largest economy, China must shoulder the responsibility to build an open economy for economic growth, and to create a fair and inclusive international environment.   

Fairness means every country deserves the same development opportunities and should not get differential treatment because of its size. It is favorable to each country for reducing dumping and trade barriers.

Xi said, "A good healer cures diseases of its attack; A good saver saves the source of disadvantages." In recent years, the increasing cases to promote its anti-dumping and anti-monopoly policies have shown Beijing's resolution to eliminate unfair competition.

Inclusiveness means accepting the development of other countries and a willingness to help them. China has adhered to the principle of mutual benefits and win-win results in cooperation with other economic entities.

A healthy global economic situation should be win-win not a zero-sum game. A country's development should not be achieved by sacrificing other countries' interests.

Differences of resources endowment, comparative advantages, labor costs and technological means need more cooperation from the whole world. China currently faces challenges with an inclusive attitude and favors the infrastructure construction of poor countries and welcomes them to develop with China.

The "Belt and Road" initiative and Asia Infrastructure Investment Bank (AIIB) reflect Beijing's open attitude to achieve prosperity for the benefit of the whole world. The world is peaceful and progressive due to inclusiveness and fairness.

Beijing intends to  maintain world order for a fair and inclusive economic pattern. China requires efforts of all countries to work together for a fair, inclusive, open and sustainable development.  

 

 

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

 

 

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

Panview offers an alternative angle on China and the rest of the world through the analyses and opinions of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

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