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FTAAP a timely answer to China skeptics(2)

2014-11-13 10:16 China Daily Web Editor: Wang Fan

China is a leading member of the international community and has fulfilled all its responsibilities in that capacity. In 2001, China entered the World Trade Organization, formally beginning the process of its integration into the world economy. China is the beneficiary of the present world order and follows all its norms.

On the other hand, its fast-paced economic growth has benefited the global economy and helped stabilize the world order. In 2010, China accounted for more than 50 percent of the global economic growth. China has the largest foreign exchange reserves, and acts as the stabilizer of the world financial system. During the global financial crisis, China prevented the US dollar from going on a roller-coaster ride - and deadly fluctuations in global exchange rates - by adding huge amounts of US treasury bonds to its foreign exchange reserves.

Again, thanks to China's efforts, the China-ASEAN Free Trade Area was established in 2010, which ultimately paved the way for the FTAAP. Living up to its promise, China will now speed up the establishment of the FTAAP. It will also make efforts to reform the multilateral trade regime. By helping integrate the Asia-Pacific region, China will strengthen free trade and strengthen cooperation and interdependence among the region's economies, and thus reduce the possibility of a war.

China's untiring efforts to start the process to establish the FTAAP are enough proof that it is not interested in starting any war. And even if the road to the establishment of the FTAAP is full of difficulties, China will take every precaution to ensure that prevailing global norms for free trade and regional integration are respected. It identifies itself with the norms and manifests good faith.

China's efforts to strengthen the world order, therefore, should answer skeptics' question on whether it is satisfied with the existing global norms or not.

The author, Li Jieyu, is an assistant professor at the Hainan Provincial Party School.

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