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Opinion
Fair Commitment
Editorial  ·  2019-11-08  ·   Source: NO.46 NOVEMBER 14, 2019

When the Second China International Import Expo (CIIE) opened in Shanghai on November 5, the larger scale compared to the first edition was evidence of China's commitment to continue opening up, economic globalization and free trade. Besides a larger exhibition area, it had over 3,800 enterprises and 26 international organizations from 155 countries and regions participating.

If anyone had any doubts even after that, President Xi Jinping's speech at the inaugural ceremony would have dispelled them. As Xi said in his keynote speech: "Of the problems confronting the world economy, none can be resolved by a single country alone. We must all put the common good of humanity first rather than place one's own interest above the common interest of all. We must have a more open mindset and take more open steps, and work together to make the pie of the global market even bigger."

Xi also announced five measures to promote a higher level of opening up: expanding the opening up of the market, optimizing the framework of opening up, improving the business environment, deepening multilateral and bilateral cooperation, and jointly building the Belt and Road Initiative. Besides, he put forward proposals for economic globalization such as jointly building an open and cooperative world economy that would also be innovative and sharing.

Xi's commitment to opening up and the wide participation of foreign countries, international organizations and enterprises indicate the international society's willingness to safeguard free trade. The expo showed that economic globalization remains the dominant trend and this won't change because of a few countries' anti-globalization moves.

Since the 2008 global financial crisis, globalization has been constantly challenged by some countries such as the U.S., which has cast a shadow over global growth. However, the dip in U.S. economic growth shows that anti-globalization doesn't help a country's economy.

Globalization characterized by free trade has been the dominant trend of the global economy since the end of World War II. Countries have become increasingly intertwined in the global value chain and supply chain over the past decades. Under such circumstances, countries that advocate trade protectionism go against the trend of the times.

The CIIE has provided a free trade platform for all countries. It has indicated that China is opening its arms wider to provide more market, investment and growth opportunities for the rest of the world and is willing to realize common development with the international society.

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