China is not merely celebrating its own development, it is also contributing to the common development of the world. As one of the largest engines of global economic growth and a major pillar of international trade, China has established interdependent and win-win economic ties with other nations. China has become the most important trading partner of 78 countries and regions, whose gross domestic product accounts for more than 70 percent of the world's total. US farmers, Japanese car manufacturers, Thai fruit producers and dealers of European luxury brands all consider consumers in China the most important. Figures from the Organization of Economic Cooperation and Development indicate that in the past two decades, every 1 percent of GDP growth in China has resulted in 0.3 percent growth in low-income countries in Sub-Saharan Africa. China has firmly committed itself to globalization by supporting free trade and resisting all forms of trade and investment protectionism and China will spare no efforts to push forward the international development agenda and safeguard the interests of developing countries. This indicates the important role China is playing in keeping economic globalization on track and maintaining the stability of the global economy.
The world's growth needs China. China's development also needs the world. In this regard, it is of key importance for China to have a peaceful, stable, open and inclusive international environment. Unfortunately, since the onset of global financial crisis, there has been an increasing inward inclination in some countries with the introduction of more and more crisis-transferring actions. Investment and trade protectionism against emerging economies is rising. These shortsighted actions by some countries not only hamper the world economy, but also hurt their own recovery and benefit no one. With the impact of the global financial crisis still being felt and the downside risks to the global economy growing, it needs all countries to make joint efforts to overcome the difficulties.
China will honor its own commitments to continue its opening-up strategy for win-win results. It will also enhance its macroeconomic policy coordination and cooperation with other countries for strong, sustainable and balanced world economic growth.
We have every reason to be confident in China's future economic outlook.
The article is also published in today's People's Daily in Chinese
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