Making APEC model of win-win cooperation
- By Sajjad Malik
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E-mail China.org.cn, November 19, 2015
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Chinese President Xi Jinping (5th L, front) poses for a family photo with other leaders and their spouses before a welcome dinner of the Asia-Pacific Economic Cooperation (APEC) summit in Manila, the Philippines, Nov. 18, 2015.[Photo/Xinhua] |
China was the leading nation trying to focus on the theme of the two-day APEC's Economic Leaders Conference in Manila. "Building Inclusive Economies, Building a Better World" is close to President Xi Jinping's vision of win-win cooperation.
Xi arrived on Tuesday to attend the conference bringing together leaders from the 21 member countries. Unlike others present, he was focused on the objectives of the APEC summit, urging joint actions for boosting trade and growth in Pacific Rim countries through stronger economic linkages.
He gave a key speech at the APEC CEO summit, which also shed light on Chinese expectations for this important regional grouping. Xi highlighted three important aspects to ensure APEC succeeds. The first is achieving win-win cooperation, which he has been promoting for greater economic cooperation with other nations.
China believes in a peaceful rise. So far, it has carefully avoided conflicts that could derail its achievements over the past three decades or so. It offers hassle-free trade ties by side-stepping any regional and territorial disputes. The relationship of China with India is an example, as their bilateral trade has increased many times while they remain locked in a boundary dispute.
Second, Xi urged ending protectionism,which is barrier to the free flow of trade and services and runs contrary to the spirit of free trade. Different countries try to institute protective measures, like hidden tariffs and customs duties, to support their domestic industries, and both developed and developing nations are guilty.
China considers protectionism a hurdle and President Xi urged other countries to be open and confident in dealing with their trade partners.
Connected with protectionism is the concept of fair competition, which was the third aspect of President Xi's speech at the CEO summit. He said it was important that fair competition should be promoted, as it helped put the economy on the right track and increase industrial output by increasing trade and commercial activities.
China wants to transform APEC into a robust organization for which the Free Trade Agreement of the Asia Pacific (FTAAP) can play a big role. China, while hosting the 2014 summit, had termed this trade deal as a "milestone" in the history of regional cooperation.
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