Trade wars 'self-defeating' in long run

China firmly advocating universal, inclusive globalization, official says

While the world seeks solutions to emerging challenges, some people deliberately blame its problems on economic globalization and embark on unilateralism and decoupling, which is "evidently a wrong prescription", according to Zhang Jun, a member of the 14th National Committee of the Chinese People's Political Consultative Conference and secretary-general of the Boao Forum for Asia.

Zhang, China's former permanent representative at the United Nations, said such approaches "not only fail to solve their own problems, but also aggravate the international community's worries and anxieties about the future".

When asked about the trade wars that the world is facing, Zhang noted that "the practice of certain countries waging trade wars not only fails to tackle their own predicaments, but also exacerbates fragmentation and chaos around the globe."

Such practices "also lack policy continuity to a certain extent, and in the long run are not only self-defeating but also detrimental to others," he said.

Zhang said he believes that China, in sharp contrast, had given the right answer long ago to the question of the times with its own practice — "to use opening-up to facilitate reform and development, and to use an open vision to solve problems in the course of development".

"The decision of the third plenary session of the 20th Communist Party of China Central Committee to further promote high-level opening-up is China's own choice and is of great relevance to the world," he said.

Zhang said that China's push for high-level opening-up will help shape and lead the direction of world development and make fresh contributions to upholding genuine multilateralism and building an open world economy.

"At a historic moment when the world is at a crossroads, China has manifested its responsible approach and leading role as a major country — firmly advocating equal and orderly world multipolarity as well as universal and inclusive economic globalization, and promoting the building of a community with a shared future for mankind."

Zhang cited China's orderly expansion of its self-driven, system-based opening-up, its proactive synergy with international high-standard economic and trade rules, and its continued expansion of a network of world-oriented, high-standard free-trade zones.

"Such initiatives are tangible and inject new energy into building an open world economy," he said.

Speaking of the Chinese path to modernization, Zhang noted that it "creates new opportunities for the growth of the world economy and for countries to seek win-win cooperation and common development."

As the second-largest economy, China has contributed more than 30 percent to the world's economic growth for many years in a row, more than the combined contribution of the G7 countries, he said.

Currently, China has become a major trade partner of more than 150 countries and regions, and is the world's second-largest importer, third-largest outbound investor, and the largest source and consumer of outbound tourism.

"More importantly, China seeks to realize win-win cooperation in opening-up," he said. "More and more facts show that as long as China goes on well, the world will be even better."

Talking about China's commitment to high-quality development, Zhang said the efforts have injected new momentum into addressing global challenges and accelerating the implementation of the United Nations' 2030 Sustainable Development Goals and the outcomes of the UN's Summit of the Future last year.

These efforts have also "made new contributions to addressing global challenges such as climate change, the digital divide, and the polarization between rich and poor, which reflects the responsible role of a major country."

The World Bank has forecast that by 2030, investments related to the Belt and Road Initiative are expected to lift 7.6 million people out of extreme poverty and 32 million out of moderate poverty in the countries participating in the BRI.

Zhang said that China's green economy, digital economy, and technological innovation are spearheading the globe, and products such as artificial intelligence are benefiting the world, "providing Chinese solutions for addressing global challenges and promoting international cooperation."

Since its launch in 2001, the Boao Forum for Asia has been committed to promoting regional economic integration and fostering economic growth and prosperity in the region and the world.

The Forum's annual meeting this year will be held from March 25 to 28, with the theme of "Asia in the Changing World: Toward a Shared Future", covering topics such as the major challenges facing Asia and the world and the cutting-edge development trends of innovation.

Zhang said that political, business and academic leaders from dozens of countries will gather in Boao, Hainan for the event.

The attendees will brainstorm for ideas, offer solutions, and deliver a positive message of maintaining confidence, unity and cooperation, common development, he said.

"We welcome people from various countries and walks of life to come and discuss the great plans for development and cooperation for the world and for Asia," he added.