China’s development creates new opportunities for the world

Over the past few decades, per capita income in the Asia-Pacific region has more than quadrupled and most importantly, more than one billion people have been lifted out of poverty. To achieve this, there is a major role of China as it made a very important contribution to the regional development.

Today, China has ushered towards not just its own development but also has enabled Asia-Pacific development and overall global economic globalization. This is more evident in the book of Chinese President Xi Jinping: the fifth volume of “Xi Jinping: The Governance of China.” 

The book contains a compilation of 91 pieces of spoken and written works of Xi Jinping and each chapter speaks volume about China’s development journey and goals.

There is so much lessons we can draw from this remarkable journey of China’s development, in particular from the chapter “China’s Development: New Momentum and Opportunities for the World.”

As the world is facing a new wave of scientific and technological revolution and industrial transformation in recent years, its important to look beyond the horizon and seize the opportunities. Considering the current trend, it important to promote transition to digital, smart and green development. In addition, the countries should boost innovation and market application of scientific and technological advances, as per the chapter.

Xi highlights that its necessary to push forward full integration of digital and physical economies.

He states, “We should jointly improve global governance of science and technology, bolster support for green and digital transition and sustainable development through innovation, and build an open, fair, just and non-discriminatory environment for the development of science and technology.”

What we can learn is how China is “committed to apply the new development philosophy with a focus on achieving innovative, coordinated, green and open development for all, and it is pursuing high-quality development and high value-added and green economic growth.”

In the book, President Xi mentions that there is a rapid growth in China’s export of “the new three,” namely, new energy vehicles, lithium-ion batteries and photovoltaic products. This has created a new momentum across the world as green revolution. “China will expedite its efforts to modernize the industrial system, provide better institutional safeguards to enable business entities of all types to share in the gains of development, and foster new drivers of growth and create more room for development,” he states. This will not just benefit China, but the whole region and the world.

As Xi mentions that China is committed to pursuing development with doors open, this means that other countries can also reap benefits out of Chinese high-standard opening up and expanded market access. Being an immediate neighbor, China’s opening up has created more development opportunities for Nepal as well. From infrastructure projects to electric vehicles, aid projects to economic cooperation, China’s progress has benefited our country as never before.

In the same way, it has enhanced connectivity, development and prosperity around the world, which is really impressive.

In the book, Chinese President Xi mentions, “No matter how the international situation evolves, China’s resolve to foster a market-oriented, law-based and world-class business environment will not change. And our policy of providing equal and quality services to foreign investors will not change.”

We know about the global situation, where countries are often in cold -war state with changing relations, but it shouldn’t create barriers. Be it the innovation factors, digital economy, or promotion of free market, these shouldn’t be affected at any cost.

There are many economic challenges at times but Chinese modernization could contribute by overcoming these challenges. As the book mentions “For the world, this means a broader market and unprecedented cooperation opportunities. It will also instill strong impetus in the global modernization endeavor.”

Throughout the book, I realized that China has kept the larger picture in mind and capitalized on the spirit of partnership featuring harmony without uniformity, and solidarity and mutual assistance.

Today, the world has entered a new period of turbulence and change. That’s why the momentum of world economic growth is also sluggish. As Xi mentioned that China will work continuously to build an open, inclusive, clean and beautiful world of lasting peace, universal security and shared prosperity, we can take inspiration that this will definitely help in maintaining prosperity across the globe.

Let’s be hopeful that the world will achieve solid progress through new innovative models and driving force at a faster pace.