Why must impediments to economic globalization be removed?
Updated 18:41, 16-Jun-2021

2-3-48 Why must impediments to economic globalization be removed.mp3


Editor's note: This 100-episode podcast explains how China works. Exploring Xi Jinping Thought and how the Chinese president's approach has shaped the governance of China, the podcast recounts the country's growth story to help you truly understand its success and challenges.

The right solution lies in consultation and cooperation. All problems could be settled in the spirit of equality, mutual understanding and accommodation.
 -  Chinese President Xi Jinping

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. We need to strengthen the mechanisms for sharing benefits globally, and explore new ways of international cooperation. The goal is to give more impetus to economic globalization and remove impediments as much as we could.

As global value and supply chains continue to develop, countries are inter-connected with each other, and integration of their economy is the order of the day. Distances between countries are getting shorter, and interactions among countries are growing, hence the probability of differences and frictions. The right solution lies in consultation and cooperation. All problems could be settled in the spirit of equality, mutual understanding and accommodation. We need to promote development through opening-up and deepen exchanges and cooperation among us. We need to "join hands" with each other instead of "letting go" of each other's hands. We need to "tear down walls," not to "erect walls." We need to stand firm against protectionism and unilateralism. We need to continually bring down trade barriers, optimize global value and supply chains, and jointly foster market demand.

Innovation-driven development is essential to sustained growth of the world economy. What we are seeing is a new round of scientific and technological revolution and industrial transformation. It has reached a historic juncture when major breakthroughs are within sight. Countries need to step up cooperation in innovation. We need to facilitate integration of science and technology with economic growth, and increase the sharing of innovation results. We need to remove barriers that hamper the flow of knowledge, technology, talents and other factors of innovation, and support our businesses in technical exchanges and cooperation on their own accord. This is a way to unleash the potential for innovation. And, to benefit mankind with the better use of knowledge, we need to tighten the protection of intellectual property. The least desirable is for us to stifle the flow of knowledge, or to create or even widen the technology divide among us.

(Source: Extract from Xi Jinping's keynote speech at the opening ceremony of the 2nd China International Import Expo in Shanghai, east China, November 5, 2019.)

This episode is presented by Wang Guan. 

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