Boao 2014: China's renewed economic diplomacy
- By Tim Collard
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E-mail China.org.cn, April 9, 2014
Among the individual themes to be discussed are the reshaping of Asia's trading infrastructure; the development of communication and media; methods for small business financing; regulation and deregulation; the rise of the Asian consumer markets and its effect on global supply chains; and the linkage between regional approaches (as exemplified by Boao itself, where many "emerging markets" are represented) and global multilateral fora such as the WTO.
All the abovementioned topics fit comfortably into the framework set out in the reform plans announced by Premier Li Keqiang during last month's NPC session; he will now have a wonderful opportunity to reality-test them against the experience of other nations, as well as to offer a lead to those countries which have thus far lagged behind the curve in the field of economic reform.
One further element at the forum, an innovation which Boao hopes to continue in the future, is the involvement of "young leaders" -- members of the younger generation who have shown a particular aptitude for leadership and responsibility and should benefit from exposure to the ideas and views of more experienced operators. (It also provides opportunities for Chinese and other senior officials to get to know those with whom they may be dealing in the future.)
Boao also gives China an occasion to showcase some of her own futuristic projects, e.g. the network of special economic zones which are coming into being as test-beds for some of the more imaginative economic reforms. One of these is the International Medical Travel Zone in the new "Green Health City" at Lecheng, close to Boao. China will also be displaying the role played by the Hong Kong SAR as an international financial centre, focusing on the future-proofing of the SAR's position in this capacity.
A further session will relate specifically to the role Hong Kong is set to play in the ongoing internationalization of the RMB as a world currency. China holds no desire to give the impression that, following the transfer of sovereignty, Hong Kong's importance as an international centre is likely to diminish.
The sitting of the Boao Forum -- set in the highly attractive island province of Hainan, but with its secretariat based in Beijing -- suggests that China wishes to keep a firm grip on the direction of the enterprise and hopes to gain a pole position in the development of the regional economy. China does not intend to do so in the sense of seeking any kind of hegemony, but in accepting the responsibilities which come naturally to the nation as a leading regional economic power in the 21st century.
China is not trying to force her own reform programme onto neighbouring countries, all of whom have different basic conditions and set out from different starting points; but China wishes to set out her own views and proposals for development and seek common ground with others, all the while clarifying she wishes to play a constructive and collaborative role in bringing the region out of backwardness and poverty, and into a full contributory role for the prosperity of Asia and the world.
The author is a columnist with China.org.cn. For more information please visit: http://www.china.org.cn/opinion/timcollard.htm
Opinion articles reflect the views of their authors, not necessarily those of China.org.cn
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