The changes in the engines for China's economic growth will not only promote the country's social and economic development and increase its comprehensive national strength, but also benefit the world. During the deep transformation period after the global financial crisis, the expansion of China's consumer market is bound to increase its imports, and consumer goods will replace raw materials and energy as its main imports. This will increase the employment and growth momentum of other countries, particularly European countries, the United States, and emerging market countries.
The world is looking forward to a bright future for China's economy. The international community generally believes that most countries, particularly China's neighbors, have benefited from its development to various degrees.
The trade volume between China and the Association of Southeast Asian Nations (ASEAN) has increased more than 20 percent annually over the past 10 years. The expansion of China's domestic demand will exert a great positive impact on ASEAN countries. Former Australian Prime Minister John Howard said that China's economic transformation will continue to gain momentum, and make the people of China and other countries richer.
China and other countries share a common destiny in the increasingly globalized world. It respects the rules of economic development, attaches great importance to sustainable development, and allows the rest of the world to benefit from its development, showing that it is a responsible major power.
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