China to remain main engine of global economy, expert says

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ISLAMABAD: Despite the multifaceted challenges posed by the still raging pandemic, China’s economic resilience, as shown by positive economic indicators, has proven that the country will continue to act as a stabilizer and a major driver of the economy. global, said one expert.

China has not only managed to keep its economic growth stable during the most difficult times, but has also reached out to other countries, helping them fight the pandemic by providing them with vaccines while also contributing to their development. economics, Farhat Asif, president of the Institute for Peace and Diplomatic Studies (IPDS), an Islamabad-based think tank, said Xinhua in an interview.

Adhering to the concept of building a community with a shared future for mankind, China’s visionary leadership, with the strong support of the Chinese people, has shown its determination to share the opportunities arising from China’s progress with the rest of the world. , making China a model country for others to follow, the expert said.

She said that under the Belt and Road Initiative, China has continued cooperation with many countries around the world, making enormous contributions to global economic growth.

“The mega project is crucial for the global economic recovery and gives countries real hope as they can transform their economies through infrastructure development, agricultural reforms, industrial development and closer cooperation with Chinese companies for benefits. economic. “

Referring to the recently concluded annual China Central Economic Work Conference, Asif noted that China’s decision to prioritize stability while continuing to make progress for next year’s economic work will have a positive impact on the world economy, claiming that the conference is not only important for China, but for the world as well.

“We live in an interconnected, interdependent and globalized world,” she said, adding that as the world’s largest developing country and a member of the World Trade Organization, China is “very meaningful” for the world.

Despite the pressure from shrinking demand, supply shocks and an increasingly complicated external environment, China is determined to resolutely tackle the challenges by further promoting reform and openness over the course of the decade. year to come, said the expert.

“China seeks to support small and medium enterprises, technological innovation and green development, strengthening the real economy,” she noted.

“In addition, there are greater opportunities for foreign investors which reflect the way China welcomes global investment in the country … Thus, this interdependence and globalization will help China and other countries achieve a solid economic recovery. in the post-pandemic era. “

However, Asif said that despite China’s immense contribution to global development and stability, some Western countries have initiated trade disputes to hamper China’s economic development, undermining globalization and mutual economic benefits. .

“When the well-being, peace and prosperity of the people are to be the center of concern, some countries choose to engage in intimidation, trade wars and the politicization of things,” she said. “But it is a wise view of China to continue to build the economy and share the benefits with countries that are against the mentality of the Cold War and de-globalization.”

The expert believes that in this age of technological and information advancements, the world is sane enough to notice who really helped people grow and progress and who got mired in unnecessary economic wars to maintain supremacy global.

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