Beijing, November 16, 2024 — The Europe Today: Chinese President Xi Jinping emphasized the importance of steering economic globalization in a positive and inclusive direction while addressing the APEC CEO Summit 2024 in a written speech. He called for collective efforts to ensure that economic globalization benefits all countries and communities, particularly amidst a period of global turbulence and transformation.
Navigating Challenges in Economic Globalization
Xi likened the challenges of economic globalization to “sailing up a river,” stressing the need for proactive efforts to advance rather than regress. “Where will the Asia-Pacific economy be going? It is a decision we must make,” he remarked, underscoring the region’s pivotal role in shaping the global economic landscape.
Xi reiterated that economic globalization is a natural outcome of advancements in science and technology and the growing interdependence of nations. Attempts to hinder global cooperation or dismantle interconnected economies, he warned, are counterproductive.
Key Proposals for Global Economic Growth
President Xi outlined three primary strategies to guide economic globalization toward a more inclusive and sustainable future:
- Innovation-Driven Growth:
Xi urged leveraging scientific and technological advancements for the benefit of humanity, emphasizing the importance of helping developing nations build capacity in these areas and promoting the global flow of knowledge and technologies. - Reforming Global Economic Governance:
He called for reforms to ensure equal representation for developing nations and the Global South, advocating principles of inclusivity where all nations have equal rights, opportunities, and rules in international cooperation. - People-Centered Development:
Highlighting the need to address global inequalities, Xi stressed that true development entails shared prosperity. He advocated for a people-centered approach to globalization, delivering balanced growth and equal opportunities across nations, communities, and classes.
Asia-Pacific as the Driver of Economic Globalization
Xi lauded the Asia-Pacific region’s robust growth, attributing its success to peace, stability, multilateralism, and a commitment to openness. He envisioned the region as a locomotive for future economic globalization and proposed efforts to build a green and digital Asia-Pacific community.
“While further burnishing the Asia-Pacific hallmark of openness and inclusiveness, we should foster a green and digital Asia-Pacific and usher in another 30 golden years of development for our region,” Xi stated.
China’s Role in Global Economic Growth
Reaffirming China’s commitment to economic globalization, Xi outlined the nation’s plans to:
- Deepen reforms and advance high-quality development.
- Lead global efforts in green transition and climate change mitigation.
- Expand high-standard free trade networks and open its economy further.
- Promote high-quality Belt and Road cooperation to drive sustainable development.
Xi highlighted that China’s development is intertwined with the Asia-Pacific’s prosperity, expressing confidence in meeting growth targets and maintaining its role as a global economic engine.
Call for Collective Action
In his closing remarks, Xi urged Asia-Pacific nations to enhance solidarity, confront global challenges together, and form a united front for shared prosperity. “As long as we act in the spirit of openness and connectivity, the vast Pacific will become a thoroughfare for more prosperity and growth,” he concluded.
The speech sets a forward-looking vision for inclusive globalization, emphasizing cooperation and shared development as essential for addressing global economic and environmental challenges.
