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Chinese President Xi Jinping’s four-day visit to Switzerland from January 15 to 18 and his address at the World Economic Forum Annual Meeting 2017 have shown the world China’s confidence in globalization amid both sluggish global growth and rising anti-globalization sentiment.
Xi called on economies of the world to persistently push for globalization and work hand in hand to fulfill their responsibilities and overcome difficulties in order to boost growth. The sense of responsibility and the confidence in the world economy portrayed in Xi’s speech have greatly bolstered the international community’s optimism.
Globalization started with the West. However， it is meeting resistance from Western economies. Trade protectionism is growing in some such countries， which blame globalization for their economic problems.
Xi pointed out that attributing world economic problems to globalization is unhelpful. The root cause is the failure to effectively address three prominent issues. First， the lack of robust driving forces makes it difficult to sustain steady growth of the global economy； second， inadequate global economic governance makes it difficult to adapt to new developments in the global economy； and third， uneven global development makes it difficult to meet people’s expectations for better lives. All these show that there are problems with world economic growth， governance and development models that must be resolved.
The president also proposed China’s solutions to the global economic woe： first， developing a dynamic， innovation-driven growth model； second， pursuing a wellcoordinated and interconnected approach to developing a model of open and mutually beneficial cooperation； third， developing a model of fair and equitable governance in keeping with the contemporary trend； and fourth， developing a balanced， equitable and inclusive development model.
China used to have concerns about globalization and joining the World Trade Organization. However， it has now become a devoted advocate of globalization because it has recognized the benefits of the process and its importance to the world economy. China is actively engaged in globalization and willing to share the fruits of its development with other nations.
China’s economic expansion took the lead worldwide in 2016. Faced with economic downward pressure and multiple other difficulties， the Chinese Government is taking action to solve the problems and achieve positive outcomes. For instance， the State Council， China’s cabinet， published a notice on January 17 on easing access for foreign investment and creating a relaxed， orderly and fair environment for foreign investors.
As Xi said， problems are not to be feared. What should concern the world economies is refusing to face up to problems and not knowing what to do about them. Faced with the controversy over globalization， the right choice should be making use of all kinds of opportunities to tackle challenges and properly guide the global economic development process.
Xi called on economies of the world to persistently push for globalization and work hand in hand to fulfill their responsibilities and overcome difficulties in order to boost growth. The sense of responsibility and the confidence in the world economy portrayed in Xi’s speech have greatly bolstered the international community’s optimism.
Globalization started with the West. However， it is meeting resistance from Western economies. Trade protectionism is growing in some such countries， which blame globalization for their economic problems.
Xi pointed out that attributing world economic problems to globalization is unhelpful. The root cause is the failure to effectively address three prominent issues. First， the lack of robust driving forces makes it difficult to sustain steady growth of the global economy； second， inadequate global economic governance makes it difficult to adapt to new developments in the global economy； and third， uneven global development makes it difficult to meet people’s expectations for better lives. All these show that there are problems with world economic growth， governance and development models that must be resolved.
The president also proposed China’s solutions to the global economic woe： first， developing a dynamic， innovation-driven growth model； second， pursuing a wellcoordinated and interconnected approach to developing a model of open and mutually beneficial cooperation； third， developing a model of fair and equitable governance in keeping with the contemporary trend； and fourth， developing a balanced， equitable and inclusive development model.
China used to have concerns about globalization and joining the World Trade Organization. However， it has now become a devoted advocate of globalization because it has recognized the benefits of the process and its importance to the world economy. China is actively engaged in globalization and willing to share the fruits of its development with other nations.
China’s economic expansion took the lead worldwide in 2016. Faced with economic downward pressure and multiple other difficulties， the Chinese Government is taking action to solve the problems and achieve positive outcomes. For instance， the State Council， China’s cabinet， published a notice on January 17 on easing access for foreign investment and creating a relaxed， orderly and fair environment for foreign investors.
As Xi said， problems are not to be feared. What should concern the world economies is refusing to face up to problems and not knowing what to do about them. Faced with the controversy over globalization， the right choice should be making use of all kinds of opportunities to tackle challenges and properly guide the global economic development process.