How about embracing a prospering China?
0 Comment(s)
Print
E-mail Xinhua, March 9, 2015
|
|
|
Chinese Foreign Minister Wang Yi gives a press conference for the third session of China's 12th National People's Congress (NPC) in Beijing, capital of China, March 8, 2015. [Xinhua/Yin Gang] |
China's top diplomat Wang Yi answered a long list of tough questions ranging from China-U.S. relations to China-Japan relations on Sunday. The questions themselves are a testimony to worries about China's growing clout and possible confrontation with key global players.
China is on its journey to steady economic growth and a moderately prosperous society. Some observers demonize its phenomenal success. Should they consider changing their mind, they may have a change of heart and observe China's development from a different perspective.
The world is in need of market demand to sustain job creation, a common concern for all countries. With an expanding middle class, the slowing but open Chinese economy provides growth momentum to foreign companies. More than 70 percent of U.S. organizations operating in China identified themselves as "profitable" or "very profitable" last year, according to a survey from the American Chamber of Commerce (AmCham) China.
As the world's second largest economy, the leading recipient of foreign direct investment and the biggest trade partner for more than 120 countries and regions, China has clearly emerged as a stabilizing force in the global economy, accounting for more than a third of total global economic growth over the past five years.
China has growing pains such as smog, water pollution and overcapacity in some sectors. While the country is learning to tackle them through trial and error, one can't expect them to go away overnight.
As a major infrastructure equipment exporter, China also pools effort to provide badly-needed funds to infrastructure construction, a hindrance to many countries' development. BRICS countries alone have about 1 trillion U.S. dollars each year in infrastructure needs, according to World Bank's calculations. Such funding gaps also exist elsewhere. Foreign assistance is a tiny piece of it and they have to rely on their own resources.
Go to Forum >>0 Comment(s)