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Globalization Demands Global Cooperation

Chinese President Jiang Zemin said Thursday that a globalized economy requires global cooperation.

Jiang's remarks came in his formal talks with Chilean President Ricardo Lagos Escobar.

Describing economic globalization as "a general development trend," Jiang said that closer economic and trade links among nations and regions have brought new development opportunities and become positive factor for promoting world peace and stability.

He meanwhile indicated that globalization increased risk for economic operation in countries worldwide. He particularly mentioned that developing countries, now weak in the globalization wave, had to face new challenges for ensuring economic security and protecting economic sovereignty.

He stressed that economic globalization should show the characteristics of equality, mutual benefit, win-win result and co-existence.

He said that all countries, big or small, in the North or in the South, should all benefit from the process.

He urged joint efforts to formulate effective international rules on the basis of thorough participation and democratic consultation among all nations.

Only through these efforts, Jiang said, globalization can be conducive to common development, growth of developing countries, narrowing gaps between the rich and poor, and economic equilibrium, stability and sustained growth in the world.

(Xinhua 04/06/2001)

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