China is a plus, against all odds
- By Lin Shaowen
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E-mail CRI, March 21, 2016
For China, these tasks are critical as the next five-years will decide whether China can really achieve a centennial goal – to build a moderately wealthier society by 2020.
So - against the backdrop of global downturn pressure, plus ever louder negative "forecasts", Li Keqiang pointed to positive signs in the ongoing economic restructuring -- an economy now relying more on the service sector and domestic consumption, less on exports and energy resources, and more on innovation, entrepreneurship and new-and-clean energy, less on labor-intensive and resource-driven industries.
China does have reason to escape a hard landing and walk out of muddy roads through deepened reforms and innovation. Certainly a tough battle, but not mission impossible, due to the development schemes just adopted, including measures listed above.
That's also a plus for the world as China is now the largest trading partner and a major investment source for most countries and has initiated many cooperative projects or mechanisms.
• The newly-established Asian Infrastructure Investment Bank - with 57 member countries – is designed for providing jobs, funds, technology and expertise to cater for development needs by breaking infrastructure bottlenecks.
• For similar purposes but on a larger scale, China's "Belt and Road Initiative" -- to build land and maritime economic corridors, or modern day Silk Roads linking Asia with Europe and Africa – aims to combine development strategies of different countries, as in a style of "coalition of the willing". Among others, capacity building through interconnectivity will provide better chances for poverty alleviation and common development.
• China has signed free trade deals with more than a dozen countries, and is planning to quicken the pace of FTA and investment treaty talks with other economies and on a broader base.
• And there are many other multilateral development forums engaging China with various regional or sub-regional organizations to facilitate trade, investment and cultural exchanges.
Faced with severe risks, the world is desperately looking for trouble-shooting opportunities. China is no exception. But to make that happen, renewed confidence and determination are the bottom line, leading to visions and plans to jointly create chances and then to programmes, projects and stake-holding mechanisms. People naturally will challenge major countries to take responsible leading roles and to be more open and more inclusive in trade and investment activities.
Zero-sum games are only suicidal eventually. For a world of shared destiny, the answer is win-win.
That makes China a big plus against all odds.
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