Name: Ren Lin, Associate Research Fellow, Institute of World Economics and Politics, Chinese Academy of Social Sciences

Title: The Belt and Road: Economic Integration and Global Governance

Abstract:

The Belt and Road is a major initiative geared toward China’s national development and foreign relations in the new era. Joint construction of an innovative, invigorated, interconnected, and inclusive world economy—theme of the 2016 G20 Summit—and governance system accords with the common interests of all countries. The Belt and Road Initiative and related specific measures constitute the “China effort” to promote the development of global economy and modification of global economic governance. The Belt and Road Initiative is a systematic project whose task at this crucial stage in the 21st century is to adjust the domestic economic structure and expand opening to the outside world. Activating the new potential for global economic growth requires countries along the Belt and Road routes to work together by sharing experience, solving development problems, and setting up regional and cross-regional financial cooperation. It moreover entails adjustment and integration of the global value chain, mutual exchanges of needed products, and other active cooperation. In the era of global economic integration, the Belt and Road Initiative taps into and carries forward the old wisdom embodied by the ancient Silk Road and win-win cooperation and cultural exchanges. On the basis of forging infrastructural interconnection, it works to build a community of shared future.

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