Ex­perts see Belt and Road as pos­i­tive

China Daily (Hong Kong) - - BUSINESS - By XIN­HUA

With the cur­rent trend to­ward glob­al­iza­tion be­ing chal­lenged by ris­ing pro­tec­tion­ism, the China-pro­posed Belt and Road Ini­tia­tive pro­vides in­sight into build­ing a new mode that bet­ter suits world de­vel­op­ment, Chi­nese an­a­lysts said on Mon­day.

Though the progress of glob­al­iza­tion may have been set back by surg­ing iso­la­tion­ism and pop­ulist sen­ti­ments in the West, its gen­eral trend will not change, said schol­ars of in­ter­na­tional re­la­tions at a fo­rum held by Xin­huanet.com, the web­site of Xin­hua News Agency.

At present, it is im­pos­si­ble for any coun­try to live in a closed sys­tem any more, said Wang Yi­wei, di­rec­tor of the Cen­ter for In­ter­na­tional Stud­ies at Ren­min Univer­sity of China.

The big­gest ob­sta­cles to the cur­rent glob­al­iza­tion stem from its in­sti­tu­tional de­fects and its un­adapt­able gover­nance struc­ture, said Yang Xiyu, a re­searcher from the China In­sti­tute of In­ter­na­tional Stud­ies. “The world is call­ing for a new mode of glob­al­iza­tion,” Yang added.

Launched in 2013, the ini­tia­tive is per­ceived as an ef­fi­cient way to pro­mote a new mode, an­a­lysts added.

Glob­al­iza­tion at the re­gional level has gone smoothly un­der the ini­tia­tive, said Ni Feng, deputy di­rec­tor of the In­sti­tute of Amer­i­can Stud­ies at the Chi­nese Acad­emy of So­cial Sciences.

“China should im­prove risk as­sess­ment, re­in­force en­ter­prise-led man­age­ment and en­cour­age the mar­ket to play its role,” said Guo Xian­gang, a re­searcher from the China In­sti­tute of In­ter­na­tional Stud­ies. He also sug­gested China fos­ter ex­perts in rel­e­vant fields and train em­ploy­ees to re­spect lo­cal cus­toms.

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