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China's development brings opportunities to world, says Russian expert

(Xinhua)    11:35, October 26, 2020

MOSCOW, Oct. 26 (Xinhua) -- The world has clearly benefited from China's progress, because China has laid many foundations that will evolve into more opportunities over the coming decades, a Russian expert has said.

"China has fundamentally changed the world's economic and political landscape in the past 40, particularly 20 years," Alexei Maslov, head of the Oriental Studies Department of the Russian Higher School of Economics Research University, told Xinhua in a recent interview.

The expert highlighted how China's openness has brought opportunities to the world, among which is an overall increase in the availability of goods at an optimal price-quality ratio.

"China, due to its policies aimed at openness, has managed to redistribute world production flows," he added.

The expert further pointed out that China has optimized the cost of scientific and technological developments, thereby accelerating their implementation.

"The country has shown that the cycle from development to production can be very short. Owing to this, many scientific and technological advances were quickly implemented," he said.

In addition, by providing large loans and investments, China supported the development of many countries that were in a conceptual or structural crisis, he said.

As regards the field of education, the expert said that from a country that sends students abroad to study, China has gained the status of a country that attracts students from all over the world.

When discussing China's opportunities for foreign companies, he further noted that China's vertical integration in the production process is an advantage, as it allows companies to design from a component part to a large machine and deliver the final product to other countries.

In this manner, China offers a full package of services for foreign companies, he added.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Wen Ying, Bianji)

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