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Belt and Road Initiative leads globalization towards more inclusiveness

Updated: April 28, 2017 Source: Xinhua News Agency
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The Belt and Road Initiative, evolving from a Chinese proposal to global consensus, is expected to usher in a new era of inclusive globalization, noted experts who attended a seminar held in Beijing on April 26, 2017.

The seminar, co-hosted by China Center for International Economic Exchanges (CCIEE) and the national high-end think-tank of Xinhua News Agency and taking “Belt and Road--a Colorful Road: Opportunities and Prospects” as its theme, has served as a prelude to the upcoming Belt and Road Forum for International Cooperation to be held from May 14 to May 15.

Liu Weidong, a researcher at the Institute of Geographic Sciences and Natural Resources Research of Chinese Academy of Sciences (CAS), pointed out that as economic globalization is at a crossroad and needs a new philosophy to move on, the Belt and Road Initiative is likely to offer a Chinese solution to the difficult situation of world economy and the reform of global economic governance structure. In this sense, the initiative will lead globalization towards more inclusiveness and bring in a new philosophy for the peace and development of the world.

“As a guide towards inclusive globalization, Belt and Road Initiative features in the following aspects. Firstly, it has laid emphasis on the function of both the government and the market. Secondly, it respects each country’s rights to explore and select development model with their own characteristics. Thirdly, the initiative is a systematic project which should be jointly built through consultation to meet the interests of all. Fourthly, the implementation of Belt and Road Initiative should abide by the concept of harmony in diversity,” explained Liu.

Zhang Yansheng, chief researcher of the CCIEE, voiced the similar opinion by saying that the implementation of the Belt and Road Initiative is based on inclusive and cooperation. Promoting it under the principle of achieving shared growth through consultation and collaboration will bring about new opportunities to the world. It not only enables Chinese enterprises to realize transformation, but also make people along the route get access to products ‘made in China’.”

“The Belt and Road Initiative is a driving force of globalization, as the countries along the route will draw benefit from the international production capacity cooperation and international capital flow,” said Wang Haifeng, director of the Department of International Trade and Investment Research at the Institute for International Economic Research of the National Development and Reform Commission (NDRC).

According to Wei Jianguo, executive deputy director of the CCIEE, the major difference between the Belt and Road Initiative and other international cooperation platforms lies in that the former’s inclusiveness and openness.

Editor: lishen