Model for innovation- led growth, integration spurs hope in hard times

Chinese President Xi Jinping’s call for advancing the building of an Asia- Pacific community with a shared future amid the COVID- 19 pandemic and economic slowdown has resonated internationally.

In his remarks at the virtual 27 th Asia- Pacific Economic Cooperation Economic Leaders’ Meeting, Xi highlighted promoting openness and inclusiveness, accelerating innovation- driven growth, enhancing regional connectivity, and pushing for mutually beneficial cooperation in the Asia- Pacific region.

Miguel Rodriguez Mackay, president of the Peruvian Institute of Law and International Relations, said that Xi’s speech demonstrates China’s sincere attitude toward strengthening cooperation with countries in the region, which will contribute to the continuous improvement of regional integration.

China’s building of a new development pattern marked by domestic circulation as the mainstay and the mutual reinforcing of the domestic and international circulations will provide great opportunities for the development of other economies and stimulate the recovery of the world economy, he added.

Lucio Blanco Pitlo III, research fellow at the Asia- Pacific Pathways to Progress Foundation, a Manila- based think tank, said Xi’s speech showed that China will adopt open and mutually reinforcing domestic and international circulations, clarifying concerns that China will turn inward.

China will not pursue a closeddoor circulation, as the rising threats of protectionism, decoupling, supply chain disruption and challenges to multilateral trade governance raise the salience of reinvigorating a commitment to globalization, the researcher said.

Nawazish Mirza, associate professor of finance at the Excelia Business School in France, said Xi’s speech reiterated China’s responsible stance to mitigate global challenges and support collective recovery.

Notable aspect

A notable aspect of Xi’s address focuses on the new sustainable development philosophy through quality upgrading and robust growth drivers, Mirza said.

Fernando Reyes Matta, director of the Center for Latin American Studies on China at Andres Bello University in Chile, said that Xi’s proposals help consolidate the foundation of APEC, and China’s new development pattern has provided a strong impetus for regional economic development.

Bambang Suryono, chairman of Indonesia’s Asia Innovation Study Center, said Xi’s remarks have charted the course for the Asia- Pacific region and the world to overcome the COVID- 19 pandemic and economic troubles.

Bobby M. Tuazon, director of Policy Studies at the Center for People Empowerment in Governance of the Philippines, said that the multilateralism and international cooperation proposed by China is the way to go, especially in the light of critical global challenges.

Zhu Jianrong, professor at Toyo Gakuen University of Japan, said with the new ideas and practical development paths and China’s commitment to its contribution, the Asia- Pacific community with a shared future is no longer just a dream for the region and the world, but a vision that can be achieved in the near future through the joint efforts of all countries.