Commentary: Unite to tear down walls of anti-globalization

Deals are precious, so is hope. Those attending the China International Fair for Trade in Services (CIFTIS) are looking for both.

As the first major international economic and trade event held both online and off-line in China since the COVID-19 outbreak, this year's CIFTIS has attracted roughly 18,000 companies and 100,000 people. During this difficult time, their attendance is both a vote of confidence in China's ability to curb the virus and a note of hope for the recovery of the world economy.

The fair demonstrates courage at this critical moment when the world is trying to remove barriers on economic and trade exchanges. Global trade cooperation, including trade in services, is an unstoppable trend of history. Sober-minded entrepreneurs and market entities will not follow certain irrational politicians in playing short-term games featuring anti-globalization sentiment, protectionism and unilateralism.

In the past, some have erroneously labeled such international trade fairs and expos as "empty propaganda exercises" or "political shows." These misinterpretations, if they do not originate from ill will, reflect a limited knowledge of China.

The CIFTIS is a concrete action from China to expand its opening up and optimize its business environment. The action will ultimately benefit not only the country but also the rest of the world.

First, China's domestic market requires expansion in trade in services. As the world's second-biggest importer of services, China has huge potential in the service industry. The CIFTIS will help bring more high-quality international services to China, meeting the people's demand for better lives in terms of health, education and environment. It echoes the new development pattern known as "dual circulation," which takes the domestic market as the mainstay while allowing domestic and foreign markets boost each other.

Second, hosting the CIFTIS exemplifies China's further opening up to expedite reform and innovation. Expanding the opening up of the service industry will help remove barriers that hamper flows of knowledge, technology, talent and other factors of innovation. It will stimulate the vitality of the new development pattern, especially when the digitization and e-commerce boom drives faster development.

Third, the service industry and trade in services have become the new engines of the world economy. About 60 percent of the world economy's total output comes from the service industry. Service exports, which account for 20 percent of global exports, contribute nearly half of the added value of global foreign trade. Facilitating services trade and cooperation is where part of the world economic recovery potential lies.

Despite the urgency of boosting global trade, the U.S. government is now building a wall of trade barriers, retreating from multilateralism, stirring up trouble and launching ideological confrontations to monopolize development rights and squeeze the development space of others. It has become the biggest impediment on the path to economic globalization. Anyone who tries to start a new economic "Cold War" in the 21st century stands on the wrong side of history and deserves opposition from the international community.

As global value and supply chains continue to develop, distance between countries will shrink and their interactions will grow. Differences and frictions will thus sometimes be inevitable. The correct solution to any given problem is consultation and cooperation.

China will cooperate with all countries, regions and enterprises willing to cooperate in return, including states, local governments and enterprises of the United States.

With the world's biggest middle-income population and most dynamic market, China will better leverage the fundamental role of domestic consumption in fueling economic development to boost growth at home and abroad. As the world has seen, China is lowering tariffs, shortening its negative list for foreign investment, easing market access, making market rules more transparent and increasing the attractiveness of its business environment.

Experiencing an economic winter, the world needs increased resolve and sincerity to stand together to make economic globalization more open, inclusive and balanced. In this context, the CIFTIS will serve as a starting point for a new spring.