China’s irreplaceable role in global economy

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Beijing

What does China mean to the world economy? In Xinhua’s interviews done in 2019, many overseas experts hailed China’s irreplaceable role in the global economy. The followings are some notable quotes from experts worldwide.
As “stability” became the key word at China’s annual Central Economic Work Conference, head of the UK Investment Office at UBS Wealth Management noted that the realization of China’s objectives for 2020 can help reduce uncertainty for the world economy.
“I am struck by the breadth and scope of China’s engagement with the world. There is now no matter of global importance in which China does not participate,” said Robert Lawrence Kuhn, chairman of the Kuhn Foundation.
China has been a major growth engine for the world economy, and its economic health bears global significance, said International Monetary Fund (IMF) Managing Director Kristalina Georgieva. There is a clear commitment of the Chinese government” to continue its “integration with global economy,” said Director-General of the World Trade Organization (WTO) Roberto Azevedo.
“Connecting more to others, importing more, exporting more, all those connectivities are fundamental if we are looking at the long-term sustainable process of development.” “I think it (the China International Import Expo) reflects China’s global importance precisely as a precursor of international trade,” said Jose Luis de la Cruz, director of Mexico’s Institute for Industrial Development and Economic Growth.
In recent years, especially the past decade, China has been open to trade with the entire world, and that “benefits not only China’s development, but also the world’s.”
At a time when we are seeing major players “look inward” or look for protectionism which excludes others, China advocates that “we embrace international solidarity, we open up opportunities in our economies for greater and deeper engagement,” said Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Mukhisa Kituyi.
Maintaining steady and fast export plays a vital role in boosting economic growth for all member states, especially for the poor countries. If China keeps its market wide open to all, it will dramatically help boost related countries’ economic growth,” said Former Vice Chairman of the United Nations (UN) Business Council John W. Allen.— Xinhua

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