World Economic Forum 2018: Expert on China's globalization and economic performance
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Earlier my colleague Tian Wei spoke with Mr. Zhu Min, the former deputy managing director of the IMF. Mr. Zhu commented on China's efforts in pushing forward globalization. He said China's focus on globalization, opening up and working with other countries, makes it one of the leading countries in the global economy.
TIAN WEI CGTN ANCHOR Q1: Chinese President Xi Jinping during his speech last year in Davos, it was a very widely welcomed speech, and he promised a lot. Many of the delegates this year still remember those promises. How much has been realized so far?
ZHU MIN FORMER DEPUTY MANAGING DIRECTOR, IMF "The big issue is the One Belt One Road initiative. China holds a big summit on May 14th last year. China continues to support its B&R investments, infrastructures, financing, also more than that, the human change, the capacity building. And China continues to open up, for example, China is to hold the first world import expo in Shanghai, indicating China's willingness to import more from the world. In the various occasions in Paris, climate change issues, China sticks on the globalization. I think those all the things are the consequence of Xi's talk last year.
TIAN WEI CGTN ANCHOR Q2: Remember Mr. Zhu, it was more than 13 years ago when China was asked to be a responsible stakeholder, and now years later it seems to have really changed that much. How did this transition of different roles of these countries play, in particular, China?
ZHU MIN FORMER DEPUTY MANAGING DIRECTOR, IMF "Well China is the 2nd largest economy in the world, I mean, it is very different 13 years ago when China's economy is relatively small. So China is obviously one of the important stakeholders in the world now. Chinese economy play more important role in the sense that China contributes more than 35% of global GDP growth. China's import and export to the world also have a huge impact on global demand. So in this sense, Chinese policy and Chinese position have a global impact. That's the big change between 13 years ago and today. And more importantly, as President Xi Jinping mentioned last year. China sticks on globalization, on open up and on working with all the other countries and believe everybody is equal. I think those also make China stand out and become one leading country in the global environment.
TIAN WEI CGTN ANCHOR Q3: But some wonder whether these are just slogans or real actions?
ZHU MIN FORMER DEPUTY MANAGING DIRECTOR, IMF "Well as I said you see the B&R initiative and what happened after Davos. I mean really, China has opened the whole financial sector and a lot of foreign capital companies allowed to have 100% ownership after start with 51% three years ago. This is quite opening now."