Global gov­er­nance needs the wis­dom of China

China Daily (Canada) - - XI’S VISIT -

In a time of global eco­nomic down­turn, chang­ing geopo­lit­i­cal pat­terns and eco­nomic un­cer­tainty, glob­al­iza­tion is en­coun­ter­ing dif­fi­cul­ties and the world econ­omy is suf­fer­ing in the con­fu­sion.

China’s pro­pos­als at the G20 Hangzhou Sum­mit to in­no­vate growth pat­terns, im­prove in­ter­na­tional fi­nan­cial gov­er­nance, re­vi­tal­ize in­ter­na­tional trade and in­vest­ment as key en­gines of growth, and boost in­clu­sive and in­ter­con­nected devel­op­ment, point the way for the world.

China’s pre­scrip­tion for world eco­nomic devel­op­ment has been en­dorsed glob­ally, be­cause it re­flects the coun­try’s wis­dom in the five as­pects listed be­low:

First of all, China en­vis­ages a change to the old ways ofWestern­led global gov­er­nance. Now, East and West can com­bine to gov­ern to­gether, an idea that has mo­bi­lized the en­thu­si­asm of many par­ties around the world.

Se­cond, China has aban­doned tra­di­tional mod­els that fo­cused on ex­clu­siv­ity and dom­i­nance, pro­mot­ing in­stead a way of think­ing built on in­clu­sive­ness, in­ter­con­nec­tion, mu­tu­ally ben­e­fi­cial co­op­er­a­tion and win-win sit­u­a­tions. Such an ap­proach aims to con­sider all op­tions and so­lu­tions.

Third, by adopt­ing in­no­va­tive, prag­matic, flex­i­ble and ef­fi­cient means, China sees trade and in­vest­ment as two ma­jor en­gines of devel­op­ment, and calls on all coun­tries to op­pose ei­ther trade or in­vest­ment pro­tec­tion­ism, and to speed up the process of glob­al­iza­tion.

Fourth, in terms of the ap­proach to gov­er­nance, the coun­try’s fo­cus on both short- and long-term so­lu­tions pre­vents the world econ­omy from fluc­tu­at­ing vi­o­lently, and en­sures it can achieve bet­ter devel­op­ment in a sta­ble en­vi­ron­ment.

Last but not least, China in­te­grates bi­lat­eral eco­nomic and trade co­op­er­a­tion with mul­ti­lat­eral and re­gional part­ner­ships, and con­sid­ers the Asian In­fra­struc­ture In­vest­ment Bank, the Re­gional Com­pre­hen­sive Eco­nomic Part­ner­ship and the Belt and Road Ini­tia­tive as devel­op­ment goals for build­ing a com­mu­nity of shared des­tiny for all hu­man­ity.

Oneof the rea­son­sChina’s gov­er­nance pro­pos­als have been wel­comed is that the world has seen Chi­nese lead­ers’ and the Chi­nese peo­ple’s con­fi­dence in the fu­ture through its 13th Five-Year Plan (2016-20) and eco­nomic devel­op­ment.

Most im­por­tant of all, China backs up its words with real work. The na­tion has cut 250 mil­lion met­ric tons of coal out­put, and 6,000 met­ric tons of steel out­put, as it has strength­ened sup­ply-side struc­tural re­form.

Henry Kissinger once wrote in World Or­der: “By any stan­dard, China has re­gained the stature by which it was known in the cen­turies of its most far-reach­ing in­flu­ence. The ques­tion now is how it will re­late to the con­tem­po­rary search for world or­der.”

Pres­i­den­tXi Jin­ping’s up­com­ing at­ten­dance to the­World Eco­nomic Fo­rum this year not only shows that China at­taches great im­por­tance to the global plat­form for di­a­logue, but also in­di­cates that the coun­try will of­fer more Chi­nese wis­dom and voices to the world in fu­ture.

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