Commentary: China injects new connotation to world development agenda
By Enrique Dussel Peteres
After 40 years of deep-layered transformation and reform, China has now grown itself into the world’s second largest economy, largest exporter and the second largest importer. Remarkable accomplishments have been scored in livelihood improvement and poverty reduction. Though some imbalances remain, China, overall, reaps brilliant achievements in economic and social development.
Starting from the beginning of the 21st century, China launched a series of effective reforms based on its long-term development plans. Those significant reforms also enlighten the major agendas of the upcoming G20 Hangzhou Summit.
First of all, China set up a complete system to coordinate economic policies in growth, competence, finance, employment and urbanization, and guided the implementation of those policies with long-term goals, sustainable policies and improved market mechanisms.
Secondly, China adopted concrete and flexible measures to improve its citizens’ livelihood. Streamlining administration and delegating powers to lower levels was one of such efforts.
China’s public authorities also made efforts to restructure the economy, give priority to service industries, speeding up urbanization and bettering people’s quality of life.
What’s more, reforms in power delegation, transparency optimization, local debt management as well as other fiscal measures yielded results. A more market-oriented reform in finance and technological system was also productive.
A series of agendas, including financial system, trade and investment flow as well as 2030 Agenda for Sustainable Development, will be discussed in the upcoming G20 Summit. One of China’s most important contributions to this end is its efforts to push for the sustainable growth of developing nations.
China’s rich experience in sectors like textile, industry, agriculture, telecommunications, automobile and motorcycle parts can be used by other developing countries as reference. The Community of Latin American and Caribbean States (CELAC) members and China have launched their cooperation plan for 2015 to 2019, and such cooperation can also provide enlightenment for other G20 members when drafting development strategies under the framework of the 2030 Agenda for Sustainable Development.
So far, Chinese investments have expanded their coverage in both G20 members and the Latin American and Caribbean states. In addition, the country has abundant experience in the construction of hydropower stations, ports, roads, railways and other infrastructure, as well as development strategies with Chinese characteristics like the supply chain based on employment increases and the “Belt and Road” initiative.
Thanks to those resources, China is expected to inject new connotation to development agendas. It can not only provide experience to Latin American and Caribbean states, but also play an engine role in designing the new global agenda.
(The author is Coordinator of the Center for Chinese-Mexican Studies at the National Autonomous University of Mexico, and head of Red ALC-China)
