China's economic diplomacy showcases fresh style with new blueprint

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China's economic diplomacy showcases fresh style with new blueprint

(Xinhua) 08:41, November 22, 2013

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BEIJING, Nov. 21 (Xinhua) -- China has witnessed a fruitful year in terms of economic diplomacy thanks to its leaders' several overseas trips aiming to deepen bilateral, regional and global cooperation.

The strategic visions shown by the Chinese leaders gave the world an opportunity to see the benefits of China's economic restructuring, adding impetus into Beijing's integration with the rest of the world, and stimulating a more vigorous global economic recovery.

GRAND VISIONS

In early September, Chinese President Xi Jinping, attending the G20 summit in Russia, expounded China's stand on issues like macro-economic policy making, the fight against trade protectionism and global governance.

By convincing facts and clear policy signals, he hit back on those who bad-mouthed the prospect of China's economy, and more importantly, enhanced the consensus of all sides and boosted the confidence of global markets.

Leaders of Beijing, on their continuous visits to Central and Southeast Asia in the following months, proposed building the BCIM Economic Corridor that encompasses Bangladesh, China, India and Myanmar; an upgraded version of the China-ASEAN Free Trade Area; a Silk Road economic belt with Central Asian countries; a maritime Silk Road with Southeast Asian countries; as well as a "cross-Pacific regional cooperation framework" that can bring benefits to all parties.

Such initiatives enliven China's economic diplomacy agenda, and draw a new blueprint for deepening regional and global economic collaboration.

PRACTICAL STEPS

But economic diplomacy is not all about presenting plans. It needs concrete moves as taken by Chinese leaders in their recent trips around the world.

Early this year, China and Europe were locked in a trade dispute over exports of China-made solar panels to the European Union (EU), as some EU officials attempted to bring an anti-dumping and anti-subsidy case against Chinese firms.

In May, Chinese Premier Li Keqiang met with major political leaders during his trip to Europe, stressing China's untouchable interests and convincing them with strong facts.

Li's unremitting efforts led to the final settlement of the row between both sides with the coordination of responsible European leaders, which, according to analysts, has saved over 400,000 jobs and Chinese companies' exports of some 20 billion U.S. dollars.

The Wall Street Journal hailed China's diplomatic effort, saying it helped prevent "one of the biggest trade spats between two of the world's largest economic powers from spiraling into a broader trade war."

Li also did a good job in introducing the new "Made in China" miracle to the world.

During his state visit in October, he gave China's high-speed railway technology the hard sell in Thailand, supported by an exhibition in Bangkok showcasing the advanced technology, safety and cost advantages of the Chinese system.

Based on years of technical progress and time-tested practice, China's high-speed technology has gained international recognition and is set to flex its global muscles by picking up passengers outside China.

BROAD WAY AHEAD

Chinese leaders strive to address global hot issues, and can identify the converging points between different sides, said Zhou Yongsheng, professor in international relations at China Foreign Affairs University.

Zhou also lauded their professionalism and communication skills as key components of China's soft power in the new era.

Looking into the future, China will focus its diplomacy on the need to prosper its neighbors along with its own development, and is also making strides to enter the international markets with its capital and technical advantages.

As the year of 2013 approaches the end, Li will embark on another journey to enhance economic and financial cooperation with Central and Eastern European countries as well as members of the Shanghai Cooperation Organization, and push ahead with China's win-win economic diplomacy that aims at common development.