CHINA INJECTS CONFIDENCE AND STRENGTH INTO GLOBAL ECONOMIC RECOVERY

Source
China Military Online
Editor
Li Wei
Time
2020-06-29 20:31:16

Joining hands to fight COVID-19 pandemic is vivid interpretation of building community with shared future for mankind (Part II)

By Jun Sheng

As a result of the COVID-19 pandemic, the global economy is expected to decline by 5.2 percent in 2020, which will be the worst economic recession since World War II, according to the latest World Economic Outlook report published by the World Bank on June 8.

"We must strengthen international macroeconomic policy coordination, keep the global industrial and supply chains stable, and try our best to restore the world economy." President Xi's proposal at the opening ceremony of the 73rd World Health Assembly video conference embodies the scientific concept of addressing both the symptoms and the root causes, and conveys the sincere willingness of China to work together with other countries. In the face of this crisis, China has always adhered to the concept of building a community of shared future for mankind, promoted pandemic prevention and control and economic and social development in a coordinated manner, and continued to promote openness and cooperation with practical actions to inject confidence and strength into the global economic recovery continuously.

How to strike a balance between pandemic prevention and control and economic and social development is an inevitable problem that the pandemic brings to the world. "On the one hand, we need to curb the spread of the virus, on the other hand, we must bear the cost of social and economic stagnation," said Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) at the joint press conference held by WHO and IMF. On the surface, trade-offs must be made. She said, however, "this is a false dilemma – getting the virus under control is, if anything, a prerequisite to saving livelihoods." In the global anti-pandemic practice, countries are generally aware that the health crisis and the economic crisis are intertwined, and fighting the pandemic is a necessary condition for economic recovery.

As the second-largest economy in the world, China has made overall plans to promote the prevention and control of COVID-19 and economic and social development in a coordinated manner, and has achieved major strategic results in pandemic prevention and control. China takes the lead in restarting the economy. While providing valuable experience and lessons for the world, China has also brought a strong and powerful impetus to global open cooperation.

No one is alone in the community of shared future. China's actions have shown the world the importance of openness and cooperation. As the only country in the world to obtain all the industrial categories listed in the United Nations industrial classification, China has favorable conditions in terms of industrial facilities and infrastructure. China exported anti-pandemic supplies, including 70.6 billion masks, 340 million protective suits, and 96,700 ventilators to 200 countries and regions from March 1 to May 31. China tried its best to deliver anti-pandemic supplies to the world, which has provided a strong material guarantee for the international community to fight the pandemic and brought confidence to the people of all countries to overcome the pandemic.

If you want to go fast, walk alone; and if you want to go far, walk together. The pandemic has brought a lot of pressure, but China's pace of opening up the capital market, optimizing the business environment, and unblocking global trade has never stopped. The Foreign Investment Law and its enforcement regulations have been further implemented, and the third China International Import Expo is in full preparation. Known as the "world’s factory", China occupies an important position in the global industrial chain and supply chain, and has the responsibility and capability of building a pragmatic platform for global economic cooperation in the "post-pandemic era" and providing huge market demand for global enterprises. A series of new policies and new measures reflect China's unwavering determination to expand opening-up, deeply integrate into the world economy, and join hands with other countries to support the recovery of the global economy.

A China that is constantly expanding opening-up and one that adheres to the concept of building a community with a shared future for mankind has contributed to and will continue to contribute to the stable development of the global economy.

It is important to take a long-term perspective. The pandemic can affect the development of the world economy, but it cannot change the historical trend of globalization. In the face of the COVID-19 crisis, all countries should work together. In the face of the economic downturn, only when all major economies in the world trust and help each other, can they coordinate actions to stabilize and restore the world economy jointly.

A global crisis involving various fields such as health and economy has once again made the world deeply realize that humanity is a community of shared future. Carrying forward the spirit of partnership and strengthening unity and cooperation is an inevitable choice to disperse the haze of COVID-19 pandemic and overcome the current difficulties with the power of joint development.

 

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