Inclusive growth model counters trend of deglobalization, protectionism

The 19th National Congress of the Communist Party of China began on October 18. It is an auspicious framework for the examination of the current international economic situation and the role of China in the reconstruction and development of this scenario. It is evident that under prevailing circumstances the interdependence model of the 1990s has been displaced by a tendency towards a de-globalization that favors individual schemes and promotes protectionism, negative rules on the movement of capital and people, and even a resurgence of ideological confrontations.

President Xi Jinping's Belt and Road initiative (BRI) is the best response to this new scenario, based on a multicultural understanding, shared goals and reciprocal benefits. The BRI is not a unique model of development; it respects the will of each part and its degree of relation to it.

The Chinese government initiated a deepening of its development policies in the current decade, becoming an inclusive country, with an open economy and with clear rules. President Xi has stated that China's outward projection is for the benefit of the economy as a whole. Inclusive development that favors education and small and medium-sized enterprises also offers benefits to other countries.

An open economy, which promotes investment and trade, enhances the interdependence and supports the development and economic expansion plans that other countries linked to the Chinese economy may have. The presence of clear rules on transparency, anti-corruption and administrative simplification will allow for a stable and non-discriminatory business environment to benefit relationships that other countries may have with the Chinese economy.

With a vision to the future, President Xi attaches importance to the domestic consolidation of the Chinese economy and its projection abroad. This will allow China in the next decade to secure its position as the world's second-largest economy.

China has not made use of any form of expansion or interference in other countries, nor has it drawn up discrimination schemes affecting other countries. On the contrary, China shares the benefits of its development with the rest of the international community through greater trade, greater investment, and a climate of understanding and friendship.

The importance of modifying the current international trend and its implications to the detriment of developing countries will be at the heart of discussions at the 19th National Congress of the Communist Party of China. This will be seen both from a transparent and inclusive development on the domestic level as well as the benefits it will bring to other countries and the international community as a whole.

(The author is the Peruvian ambassador to China.)