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'Belt and Road' platform for cooperation, no challenge to global order

(People's Daily Online)    13:35, May 15, 2015
President Xi Jinping gives a speech about development and cooperation. (Photo/Xinhua)

Issue of the Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road by Chinese government has attracted considerable attention. Domestically, the Belt and Road Initiative bridges the platform for expanding investment and opening up markets; and internationally, it serves as a framwork for future cooperation and exchange among countries. However, there are still some misunderstandings.

For instance, some claim that China is dumping money abroad, some allege that China is challenging the international order, and some are even buzzing that China intends to monopolize regional markets through Belt and Road. Those need to be clarified.

China's Belt and Road Initiative is based on the principle of mutual benefit and win-win, as well as the premise of sustainable cooperation. As a result, risk reduction and profitability will be major factors under consideration when building the macro-environment of the Belt and Road, choosing projects, channels of investment, operating models, and safeguard mechanisms. The same will be the case when emphasizing the key role of business and the decisive role of the market, creating the environment for overseas investments, and calling for alignment of economic development plans from different countries to facilitate trade and investment.

In terms of international politics, conflict and competition among great powers in the past 500 years has caused great disasters. Being aware of these problems, China devotes itself to the establishmeng of the third party principles of being non-alliance, non-confrontation and not directed against any. The Belt and Road initiative aims to build a platform for open,inclusive, mutual benefit and win-win dcooperation. With more intensive cooperation and converged interests, countries can become a community of interests, responsibilities and destiny, and free themselves from security fears.

From the view of regional development, the promotion of Belt and Road will activate the potential of different regions. Since China joined the WTO, instead of making low-cost competition an advantage to monopolize the global market, China has helped to expand the global market. From 2001 to 2014, China imported goods worth almost 15 trillion US dollars from other countries, and contributed to these partners' development. Now China's advantage in cost has been weakened while other countries are getting stronger in this area. The theory of "dumping on the world and monopolizing the world" through Belt and Road is preposterous. China's economy is entering a new phase; together with the encouragement of Chinese enterprises to "go global," the Chinese government has also been meeting its responsibilities in environmental protection, avoiding the old path of transferring pollution while transferring industries.

The Belt and Road Initiative intends to provide a platform for cooperation as well as a harmonious international environment. With sincerity and mutual trust being built, Belt and Road will serve as the platform for a new chapter of human civilization progress.

This article is edited and translated from 《“一带一路”,激活区域发展潜力》,source: People's Daily, author: Luo Yuze

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