Interview: CIIE symbolizes China's solid support for free trade, globalization: U.S. scholar

(Xinhua) 13:33, November 07, 2023

CHICAGO, Nov. 6 (Xinhua) -- The China International Import Expo (CIIE) stands as "a symbol of China's solid support for free trade and globalization," a U.S. scholar has said.

The expo has been held successfully over the last five years, creating more channels to do business and enriching cultural exchanges, Khairy Tourk, professor of economics at the Stuart School of Business of the Illinois Institute of Technology in Chicago, told Xinhua in a recent interview.

At a time when the world is beleaguered by economic uncertainties due to increasing trade restrictions and eruption of new wars, "China has taken concrete steps to ensure a healthy growth of international trade," Tourk said.

"The CIIE is a proof of the country's commitment to open its door wider to foreign imports," he said.

Since its inception in 2018, the expo has proved to be a real success. Tourk admired the high-level participation in the expo by developing countries and emerging economies.

"For many of them, the expo is a must-attend event" as it gives them an opportunity to showcase their products and interact with Chinese and foreign professional buyers, he said.

Calling the China-proposed Belt and Road Initiative (BRI) and the CIIE unprecedented events that represent global public goods, Tourk said "both result in win-win outcomes for all participants. Both result in the realization of concrete economic benefits and also foster a deeper understanding of different cultures through people-to-people exchanges."

"They are an embodiment of Confucian morality, which strives to achieve harmony in the world," he said.

The Chinese economy, which is recovering from the aftermath of COVID-19, is on course to achieve a more than 5 percent GDP growth rate this year, Tourk said, adding that one positive sign is that infrastructure investment has risen by 7.2 percent in the first half of this year.

"Encouraging also is the recent increase in consumer spending since September," he added.

"Chinese long-term prospect is bright," Tourk said. "The country's GDP growth would be greatly helped by the expansion in urbanization and digitalization of the economy."

(Web editor: Zhang Kaiwei, Liang Jun)


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