Opening a new chapter together for 'Asia-Pacific miracle'

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Chinese President Xi Jinping delivered a speech titled "Staying true to APEC founding mission and enhancing unity and cooperation to jointly promote high-quality growth in the Asia-Pacific" on November 17 at the 30th APEC Economic Leaders' Meeting. What kind of Asia-Pacific region should we have by the middle of this century? What should we do to usher in another "golden 30 years" for the region? How can we bring out the best of APEC in this process? President Xi gave his insightful answers in the speech. He also elaborated on the global significance of Chinese modernization, charting the course for further cooperation and injecting strong positive energy into the modernization of the Asia-Pacific.

Chinese modernization to stimulate stable foundation

Over the past decades, economic cooperation in the Asia-Pacific region has flourished, creating the "Asia-Pacific miracle" that has attracted worldwide attention. Asia has contributed two-thirds of global economic growth, while nearly two-thirds of Asia's economic growth has been generated by China. According to the Asian Economic Integration Report 2023 released by the Asian Development Bank, China contributed 64.2 percent of the economic growth in the Asia-Pacific region. China's "miracle development" created by Chinese modernization has been evolving into the "Asia-Pacific miracle."

In 2022, the trade volume between China and the Asia-Pacific region reached $3.1 trillion, a year-on-year increase of 19.2 percent, accounting for 36.8 percent of China's total foreign trade. China is a major trading partner of many Asia-Pacific economies and an important node in the regional industrial and supply chains. Besides, Beijing's relations with the Asia-Pacific region have been consistently strengthened through the Belt and Road Initiative. The China-Laos Railway, the Jakarta-Bandung High-Speed Railway, the Thai-Chinese Rayong industrial zone and so on are the most vivid examples of it. China and the Asia-Pacific have become a community with a shared future for mankind. 

As former Philippine President Gloria Macapagal-Arroyo said, China is forging a new development model in a world system that is becoming increasingly complex. Facts have proved that China is not a competitor, but a partner for the world; it provided developing countries with markets, aid capital and technology.

Chinese modernization to provide wise experience

China keeps sharing the resource elements, market platforms, practical experience and ideas of Chinese-style modernization, and insists on achieving common prosperity through common development.

In recent years, China and ASEAN have continued to deepen cooperation in poverty alleviation, e-commerce, environmental protection and other fields. From infrastructure construction to industrial development and transformation, from poverty alleviation to supporting education, the successful experience of Chinese modernization has been promoted in many ASEAN countries.

Last month, China successfully held the third Belt and Road Forum for International Cooperation, with 458 outcomes achieved and $97.2 billion worth of agreements signed. The recently concluded sixth China International Import Expo saw tentative deals worth $78.41 billion for one-year purchases of goods and services, setting a record high. The figure represented an increase of 6.7 percent from that of last year. China has been expanding its opening up and sharing development opportunities and dividends with other countries.

Singapore's Emeritus Senior Minister Goh Chok Tong said that China has now become the world's second-largest economy, and China's development has been beneficial to the world, especially to the Asia-Pacific region. Singapore has been a staunch partner in China's modernization process since its early days. China and Singapore have achieved win-win results. Anthony Lopez, editor-in-chief of Asia Business Weekly in the Philippines, believes that Chinese modernization has expanded the path for mankind to realize modernization and inspired Asia-Pacific economies.

The vast Asia-Pacific region, with a huge population, is politically diverse and culturally pluralistic. Countries in the region are at different stages of development, and greatly different in development paths. As a mature modernization path explored by China in the light of China's own national realities, its exploration process and results are of great significance to other countries in the Asia-Pacific region. Chinese modernization is becoming an important international public good safeguarding the prosperity and stability of the Asia-Pacific region and the sustainable development of the world.

Chinese modernization to bring new impetus and opportunities

Historically, the modernization of some Western countries was based on the exploitation, oppression and colonization of other countries. China's modernization is not achieved through the exploitation of other countries but through its own continuous innovation and reformation. At the same time, China upholds the original aspiration of Asia-Pacific cooperation, upholds the principle of sharing benefits for all, and promotes the development of other countries in the world with Chinese modernization. As President Xi said, China can only do well when the world is doing well. When China does well, the world will get even better. Development is only possible with cooperation, absence of cooperation is the biggest risk, and that decoupling and supply-chain disruption are not in anyone's interests.

Over the past decade, Chinese leaders have put forward the Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, providing China's answer to the century's question of "What is happening to the world and what should we do?" China has hosted the Belt and Road Forum for International Cooperation and the International Import Expo, providing Chinese solutions for promoting world prosperity and development.

Different from the modernization of Western countries, Chinese modernization emphasizes common prosperity and harmonious coexistence between human and nature. As Keith Bennett, vice chairman of Britain's 48 Group Club, said, in a capitalist society, people have mental health crises and anti-social behaviors, and Chinese modernization has skipped the "modernization trap" that intensifies the conflict between people and people, and between human and nature.

The Asia-Pacific region is the center of the global economy. A series of global governance issues, such as climate change, nuclear non-proliferation, political settlement of hotspot issues and economic recovery, have also posed new challenges to the future development and prosperity of the Asia-Pacific region in the face of profound changes unseen in a century.

Chinese President Xi Jinping put forward four commitments in his speech at the 30th APEC Economic Leaders' Meeting: Staying committed to innovation-driven development, openness in development, green development and inclusive development that delivers benefits to all. They are providing Chinese wisdom and solutions for the continuation of the "Asia-Pacific Miracle."

As the Chinese people often say, "A man should be independent at the age of 30," APEC member economies have gone through a brilliant 30 years together, despite wind and rain, ups and downs, but they have always maintained strong economic vitality and momentum for development. It is hoped that this meeting in San Francisco will be a new starting point for the Asia-Pacific region to jointly write a new chapter of development and face the next 30 years, and more.

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