China will contribute more to global stage
May 03,2015 0 Comments
President Xi Jinping’s “Belt and Road Initiatives” are the most significant and far-reaching that China has ever put forward. It has aroused great interest in the international media.
To understand the initiatives, we need to take a closer look at the world, China and the initiatives themselves. The “Belt and Road Initiatives” span 65 countries and 4.4 billion people. They are China’s most important and strategic initiatives.
They are well thought out initiatives which take into account the world’s need, the reality in Asia and China’s own situation. In regard to the world’s need, we can find three significant features.
First, the Middle East and North Africa have become the epicenter of turbulence and regional conflicts. The “Arab Spring” of 2010 triggered a major political earthquake in the region that fell many strong men. The Syrian civil war has been going on for more than four years, claiming the lives of about 200,000 people and rendering millions homeless.
The war between the Islamic State and the anti-IS alliance has been raging for more than a year. Some parts of Libya have become the stronghold of the IS in North Africa. And we can’t foresee the end of turbulence in the region despite the tireless efforts of the international community.
Second, Europe finds itself at the epicenter of a financial crisis. The crisis broke out in the United States in 2008, but the worsening sovereign debt crises in Portugal, Spain, Italy and Greece shifted its epicenter to Europe.
And the European Union is still struggling to overcome the consequences of this crisis.
Third, East Asia has become the global growth center. The last three decades have seen steady and robust growth in East Asia making the region the most dynamic and fastest growing in the world. Its steady growth is not only important for Asia but also for the rest of the world.
Moving to Asia, we can see East Asia, with 2.2 billion people, is continuing to grow steadily. South Asia is catching up but Central Asia still lags behind. But the economies of these three regions are highly complementary. And the “Belt and Road Initiatives” aim to promote the development of all these three regions together.
If the initiatives succeed, they will provide Asia with a powerful engine for further growth, which is good news not only for Asia, but also for the whole world.
Coming to China, we see that it became the world’s second-largest economy in 2010. True, the Chinese economy is slowing down, but it still achieved a 7.4 percent growth rate in 2014. The target for this year is 7 percent, more than double the global growth rate. Given China’s growth potential, the international community expects it to provide more public goods and services. The “Belt and Road Initiatives”, the Asian Infrastructure Investment Bank and the Silk Road Fund are the precise mechanisms and services China is willing to help provide for the peace and prosperity of the region.
How should we realize these initiatives? Xi has proposed three “togethers”. The first “together” is discussion among the parties concerned to identify projects of cooperation for mutual benefit. The second is working together to realize the projects on the basis of common interest. And the third is enjoying together the fruits of this common endeavor. The “Belt and Road Initiatives” are inclusive rather than exclusive. The United States, European countries, Japan and the rest of the world are welcome to join this huge undertaking.