On 5 December 2020, the South China Morning Post published Commissioner Xie Feng's article "A shared future", which points out that the Belt and Road Initiative and economic globalization will advance in tandem and complement each other, with high-quality belt and road cooperation making the new type of globalisation more open, inclusive, balanced and beneficial to all. The article was also published on the website under the title "How China's belt and road vision of a new type of globalisation can benefit all". The following is the full text:
This is an unusual moment in history. Covid-19 has plunged the global economy into recession, protectionism and unilateralism are mounting, and inequality and imbalance in global distribution and development are becoming more acute. All of this poses unprecedented challenges to economic globalisation.
Meanwhile, China is entering a new stage of "fully building a modern socialist country", and is fostering a new development paradigm with domestic circulation as the mainstay, and domestic and international circulation reinforcing each other.
How will the Belt and Road Initiative move forward, and where is economic globalisation heading? My answer is that the two will advance in tandem and complement each other, with high-quality belt and road cooperation making the new type of globalisation more open, inclusive, balanced and beneficial to all.
High-quality belt and road cooperation will fix the uneven centre-periphery structure of traditional globalisation by addressing the key problem of unbalanced development. The initiative attaches priority to enhancing infrastructure in regions left behind in traditional globalisation, expanding industrial cooperation, increasing effective supply, and creating new demand.
It will maximise the potential of developing and transitioning countries, put all nations in the driver's seat, and transform them into a powerhouse of globalisation. In the first three quarters of 2020, China's trade with belt and road partner countries and direct investment in their non-financial sectors continued to rise despite Covid-19. Forging ahead against the odds, the belt and road has kindled hope for the global economic recovery.
High-quality belt and road cooperation will promote the healthy and sustainable development of globalisation. While traditional globalisation caused the hollowing out of the real economy, the belt and road has offered a solution with its focus on connectivity, helping participating countries unleash their potential with quality, sustainable, affordable and accessible infrastructure.
Driven by innovation and green cooperation, belt and road partner countries have followed international rules, coordinated development in the economy, society and the environment, and worked closely in frontier technologies including 5G, big data, artificial intelligence, blockchain, the internet of things, cloud computing and quantum computing.
Efforts have also been made to develop green infrastructure and green value chains, and to participate in global environmental governance. The "Digital Silk Road", featuring cross-border e-commerce, smart cities, telemedicine and internet finance, is also gaining momentum.
High-quality belt and road cooperation will put people first, and enable people of different countries and social groups to share in the dividends of globalisation. Incorporating the UN Sustainable Development Goals, the belt and road rejects the zero-sum mentality and the law of the jungle, and advocates instead globalisation that benefits all.
It builds roads and bridges and provides power and heat for local communities, raises incomes by creating job opportunities, improves lives by investing in education, health and medical care, and helps participating countries build capacity and cultivate a more skilled workforce.
The China-Europe freight trains have delivered over 280 batches of emergency medical supplies and daily necessities to over 150 countries and international organisations, serving as a key cargo lifeline and deepening the ties among people worldwide in the joint battle against Covid-19.
High-quality belt and road cooperation will uphold a new vision of global governance featuring openness, inclusiveness and win-win cooperation. Guided by the principle of extensive consultation, joint contribution and shared benefits, the initiative calls for seeking common ground and shelving differences, where matters involving all should be discussed and solved together.
It does not intend to form an exclusive circle, draw ideological lines, impose business deals on others, or pass judgment on others' internal affairs. Participating countries, notwithstanding their size, wealth and strength, are all equals. Together, they are committed to joining hands instead of decoupling, tearing down barriers instead of erecting them, enhancing trade and investment integration.
The signing of the Regional Comprehensive Economic Partnership is the latest evidence that differences in the stage of development, system and values are not necessarily obstacles to win-win cooperation. Ultimately, free trade and multilateralism represent the trend of the times.
China's new development paradigm envisioned by President Xi Jinping will open up vast horizons for high-quality belt and road cooperation, and inject fresh impetus into the new type of globalisation.
China will expand domestic demand as a strategic priority, focus on supply-side structural reforms, fully tap the potential of its mega market, and generate more demand and dividends for partner countries. Total imports into China are estimated to top US$22 trillion in the coming decade, with service imports expected to reach US$2.5 trillion in the next five years.
By promoting dual circulation, advancing trade and investment liberalisation and facilitation, and continuing to ensure a market-oriented, rules-based and international business environment, China will boost high-quality belt and road cooperation. It will also contribute to the security and stability of global industrial, supply and value chains, and champion a more open, inclusive and vibrant global economy.
An important lesson from the Silk Road, spanning thousands of years, is that openness brings progress, while self-seclusion impedes it. Conflicts and confrontation are not the fate of mankind; win-win cooperation is the eternal aspiration. The Belt and Road Initiative will lead to a new type of globalisation, and to a better future for people around the world.
Facing the intertwined challenges of Covid-19 and profound changes unseen in a century, China is ready to work with the rest of the international community, find a way forward through cooperation, and break new ground amid changes. Let's jointly embrace the new type of globalisation, and build a community with a shared future for mankind.
