The Chinese economy remains the engine for the global economy and China's efforts in pursuing multilateral free trade mechanisms will further offer opportunities for other countries and help the world economy, a renowned Indian expert said in a recent interview.
China is still the engine for the development of the global economy and will continue to benefit the world, B. R. Deepak, a professor of Chinese and China studies at the Centre of Chinese and Southeast Asian Studies at Jawaharlal Nehru University in New Delhi, told the People's Daily.
Deepak pointed out that the Chinese economy grew by 6.7 percent year-on-year in 2016 and contributed 33.2 percent of global growth, while the US contributed one-quarter of what China contributed, the People's Daily reported on Thursday.
Under the backdrop of a sluggish recovery in the global economy, this data is very impressive, said Deepak, adding that China has achieved "major progress" in transforming its economy to a consumption-based one, which benefited both the Chinese and global economies.
Deepak also said that as the world's second-largest economy, China will further contribute more to the reform of global governance with its support of multilateral cooperation mechanisms.
China has been emerging as a leader for economic globalization, increasingly positioning itself as a leader in the global economy as the US and the UK appear to be retreating from the global stage through the election of President Donald Trump in the US and the UK's vote to leave the EU.
Zhang Jun, a top official at China's Ministry of Foreign Affairs, said China is prepared to lead the world economy if other countries retreat from globalization, the Wall Street Journal reported on January 23.
In a speech to the World Economic Forum in Switzerland last month, Chinese President Xi Jinping mounted a staunch defense of globalization and vowed to pursue free trade that will benefit all countries.
