Africa -China Review Africa -China Cooperation and Transformation
Published: January 22.2024
By Staff writer
The Chinese Premier Li Qiang’s speech at Devos during the World Economic Forum (WEF), reassured the world that China has its doors open for cooperation,and as the second largest economy globally, the country supports globalization and an open world economy.
Premier Li, welcomed international investors, but highlighted that the world needed to pull down barriers to competition and trade to tackle global challenges.Although the Premier did not name countries, the US is top among western countries that have put restrictions on Chinese technology products from accessing their markets and also prevented Chinese companies from buying advanced technology from U.S. firms.
Li, also emphasized the importance of keeping global supply chains “stable and smooth,” warning that tech innovations should not be used as a way to restrict or contain other countries. In the last two years, the US administration has deliberately put much effort in denying China access to high-end semiconductors used for artificial intelligence, out of concern that the technology is boosting military capabilities for China.
The theme for the WEF at Devos this year focused on “Rebuilding Trust,” and the Chinese Premier told more than 2,800 global political and business and society leaders that, “ the best way to earn trust is to be a better version of oneself.” The Chinese Premier offered a five-point plan, including macroeconomic policy coordination, international industrial specialization and cooperation, cooperation in innovation, cooperation in green development, and north-south and south-south cooperation.
Li, pointed out the prevailing trust deficit among nations, which impedes global economic growth and peaceful development, warning that under the impact of global crises, when countries are fragmented, the world economy will become more fragile. “The traditional Chinese culture very much values credibility. China is a country that attaches great importance to commitments, honoring its words with concrete actions all along. With the greatest sincerity, utmost efforts and concrete results, China has proven consistently to the world that it is a country most worthy of trust,” Premier Li, told the WEF delegates.
There is deliberate misinformation campaign spread bywestern countries depicting Chinese economy as being on a down turn and this is done to discourage international investors. Premier Li, reassured the WEF delegates that the Chinese economy had rebounded and moved upwards, and was estimated to have grown around 5.2% in 2023, above the official target of around 5%.
Premier Li, further pointed out that healthy competition was key to enhancing cooperation and innovation, and the world needed to remove barriers to competition and cooperate on environmental strategies and international scientific exchange.
China is a country that advocates for global peace and shared development for the benefit of all countries without discrimination. To build a universally beneficial and inclusive world economy as suggested by China, is good news that should receive global support and implementation. I believe that the proposal of the Belt and Road Initiative (BRI) put forward by president Xi Jinping in 2013, is one such initiative in the right direction on enhancing shared developmentacross both rich and developing nations.
As of August 2023, 155 countries were listed as having signed up to the BRI. The participating countries include almost 75% of the world’s population and account for more than half of the world’s GDP. Instead of viewing the BRI as a Chinese project of global influence and try to sabotage it by putting parallel western proposals, the global north should give it at least moral support for global development and bridging the gap economic between the global north and south.
