观点·随笔·访谈
林盼:Expo to boost global trade(依托进口博览会,推动全球贸易)

2020-01-16

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  2019年11月5日,《中国日报》网站(chinadaily.com.cn)刊登了中国社会科学院经济研究所林盼副研究员的文章:《Expo to boost global trade》(依托进口博览会,推动全球贸易),全文如下: 

Expo to boost global trade

By Lin Pan | chinadaily.com.cn | Updated: 2019-11-05 11:19

The ongoing second China International Import Expo in Shanghai proves China remains committed to further opening up in order to build an open world economy in the new era. It is in line with China’s pursuit of a new round of high-level opening-up and to further widen market access to the rest of the world.

As President Xi Jinping said in his keynote speech at the opening ceremony on Tuesday, China’s door of opening-up would only be wider and wider. He announced five measures to further promote high-level opening-up, including further opening-up of market, and improving the structure of opening-up and business environment, and continuous deepening bilateral cooperation and promoting shared development of Belt and Road Initiative.

Since the launch of reform and opening-up four decades ago, China has been an integral part of the international division, which brought it huge development opportunities and benefits. But despite export-oriented and high-speed growth helping China to become the world’s second-largest economy, this mode of development is not sustainable in the long run.

True, after China joined the World Trade Organization in 2001, its exports grew at unprecedented speed — owing to its technological prowess, and low labor and production costs advantages — transforming it into the biggest trading country. But the model of quantitative economic growth also created many problems, for example, overcapacity that led to low efficiency of the resource distribution system, technical bottlenecks and environment pollution.

Moreover, thanks to the lingering effects of the global financial crisis, global consumer demand continues to be depressed, seriously compromising the efficiency and debt ratio of enterprises. Also, the fact that a large percentage of Chinese goods, according to the laws of economics, have gained larger shares in many markets could lead to trade disputes with those countries. Which would not be conducive to creating China’s image as a responsible great power.

With the aim to solve these problems, the Chinese government has put forward a series of targeted measures to increase imports and reduce its trade surplus with other countries. In particular, the Central Economic Work Conference in Decem