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People's Daily Online>>Opinion

Transformation needs courage, wisdom

By Zhong Sheng (People's Daily)

14:50, January 06, 2012

Edited and translated by People's Daily Online

The global economy is experiencing a transformation. In order to change the current imbalanced situation, all countries need to adjust their own economic structures.

The difficult point of this economic transformation is that while the economic structure must be adjusted, economic recovery must be realized as soon as possible. It will not be an easy task to properly handle the relations between transformation and recovery.

There are also bright points in the transformation. The joint rise of the emerging economies is providing the impetus for the transformation, and East Asian economies' role in driving the global economy is strengthening remarkably.

Although the global economy is facing many difficulties, it will not stop progressing. The arduous transformation will build a new platform for the next economic take-off.

Currently, various signs of the transformation period have appeared in the Asia-Pacific Region. Many seemingly complicated bilateral and multilateral issues are actually connected with the transformation. During the process of the original economic and security structures changing into new structures, the competitions for interest are extremely fierce sometimes. However, most countries do not want acute contradictions to be unsolved for a long time, and relying on the development to solve issues is the common view of most countries.

The transformation of the Asia-Pacific region is closely connected with the China-U.S. relations. China has turned into a very important country in the region and it is inevitable that China participates in the construction and adjustment of the regional order.

The United States is a leading power that holds a dominant position in this region, and it will not only connected with future trend of the China-U.S. relations but also significantly affect the transformation of the region that how Washington will treat China's rise.

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