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Economy

Changing times demand bigger role in WTO

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2016-12-07 08:55China Daily Editor: Xu Shanshan ECNS App Download

Editor's note: A number of experts spoke at a recent forum organized by the Center for China and Globalization and the Center for Strategic and International Studies to mark the 15th anniversary of China's entry into the World Trade Organization. Following are the views of some of those experts:

Globalization the way forward

Global governance in its existent form is facing challenges, so a new form of global governance is emerging. With the Doha Development Round of the WTO coming to a halt, the major economies, which are in dire need of new global trade rules, have accelerated the pace of talks among themselves through multilateral arrangements such as the Regional Comprehensive Economic Partnership, the Belt and Road Initiative (the Silk Road Economic Belt and 21st Century Maritime Silk Road), and the Transatlantic Trade and Investment Partnership.

China needs to make better use of these arrangements to be able to write new global trade rules, which in turn will propel its domestic reform forward, help it maintain its established priorities in global trade and expand the influence of its capital.

The United Kingdom benefited from the earlier stages of globalization, the United States did so from the later stages, and China is benefiting from the current stage. As such, China will continue to support globalization and will take the process forward.

Helping increase global growth

Globalization entered a new phase after the 2008 global financial crisis, and today the world is witnessing a power shift and change in global governance.

While defending the existing global governance mechanism with the United Nations at its core since the end of World War II, China advocates reform of international relations to establish a new win-win model based on common prosperity and shared development. Its proposals are in accordance with the interests of the entire international community. China is a defender of and contributor to the global governance mechanism, not a violator as some Western media outlets allege.

China supports the global trade and investment system featuring free, open and fair trade. It will continue to participate in and lead global governance to make it more open and transparent.

China will also make more contributions to global governance, and intensify its efforts to raise global economic growth. And it will provide more global public products and play a more positive role as a major economic power.

  

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