China stresses Asia’s role in promoting global peace, growth and cooperation

 

With the three critical questions atop the agenda, this year’s Boao Forum for Asia (BFA) Annual Conference held in the town of Boao, south China’s Hainan Province, has drawn worldwide attention.

The Global Security Initiative to promote security for all in the world proposed by Chinese President Xi Jinping at the forum on Thursday has given an Asian perspective on addressing the challenges of the times.

‘Sophisticated, integrated apparatus’

Security is a precondition for development, and humanity is living in an “indivisible security community,” Xi said in a video speech.

“In this day and age, the international community has evolved so much that it has become a sophisticated and integrated apparatus,” he said, adding that acts to remove any single part will cause serious problems to its operation.

Calling on all countries to join hands, he further highlighted the need for cooperation in fighting against the COVID-19 pandemic, promoting economic recovery, maintaining world peace and addressing global governance challenges.

“It is particularly important for major countries to lead by example in honoring equality, cooperation, good faith and the rule of law, and act in a way befitting their status,” he said.

This is Xi’s sixth time delivering a keynote speech at the forum, and cooperation and peace are frequently among the key pillars he mentions when expounding on China’s propositions to the world.

‘Make Asia an anchor’

Measured by purchasing power parity, Asia’s share in the world economy in 2021 rose by 0.2 percentage points from 2020 to 47.4 percent, according to the Asian Economic Outlook and Integration Progress Annual Report 2022.

The report also noted that a number of factors are essential for assessing the economic performance in 2022, including the development of COVID-19, geopolitical tensions after the Russia-Ukraine conflict, monetary policy adjustment in the U.S. and Europe, debt problems in some economies, global supply and political regime changes in some Asian countries.

Against such a background, Xi’s proposition at the forum makes more sense — making Asia an anchor for world peace, a powerhouse for global growth and a new pacesetter for international cooperation.

“When Asia fares well, the whole world benefits,” he said.

Calling for efforts to foster a more open Asia-wide market, he stressed seizing opportunities, such as the entry into force of the Regional Comprehensive Economic Partnership and the opening to traffic of the China-Laos railway.

The president also highlighted China’s role during the process, saying that the fundamentals of the Chinese economy – its strong resilience, enormous potential, vast room for maneuver and long-term sustainability – remain unchanged.

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