Experts see Belt and Road as positive

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.