Stephen Roach: China's 70th anniversary a great moment in modern history

The annual China Development Forum (CDF) with the theme "Greater Opening-up for Win-Win Cooperation" kicked off in Beijing Saturday. Leaders from global leading companies and international organizations, as well as foreign and Chinese well-known scholars gathered to exchange ideas on the economy and business cooperation.

During the forum, People’s Daily Online had an exclusive interview with Stephen Roach, a senior fellow at Yale University’s Jackson Institute of Global Affairs and a former chairman of Morgan Stanley Asia.

On the 70th anniversary of the founding of the People’s Republic of China, Roach said that it is a great moment in the modern history of a great nation. “There’s a lot to celebrate. The first 30 years in terms of economic progress were difficult. The last 40 years have been nothing short of spectacular,” Roach said.

Roach also spoke highly of the Belt and Road Initiative. He said with the BRI, China can use its expertise to develop domestic infrastructure into broader projects that connect the regions. “A program like this is a massive commitment to improving the economic well-being of a region. That would have a positive impact on the region and the broader global economy,” Roach added.

Watch the video to find out more about Stephen Roach’s take on China’s quality development. 

Stephen Roach, a senior fellow at Yale University’s Jackson Institute of Global Affairs and a former chairman of Morgan Stanley Asia. (Photo/Wang Yuran)