New global trade layout accelerates formation, China creates huge opportunities for the world

  New global trade layout accelerates formation, China creates huge opportunities for the world

 CCTV News: Since the beginning of this year, the trend of global trade recovery has gradually emerged.
According to the latest forecast from the World Trade Organization, the global trade volume of goods is expected to increase by 2.6% in 2024.
At the 15th Summer Davos Forum, many attendees also discussed the new changes in the global trade pattern.

With the intensification of global challenges such as geopolitics, climate change, protectionism, and unilateralism, the international trading system and global industrial chains have been severely impacted, and existing shipping routes and energy trade relationships have also undergone significant changes due to geopolitics.
In this process of change, China's influence is increasingly growing.

Ren Hongbin, President of the China Council for the Promotion of International Trade, stated that China not only has a super large market and the largest middle-income group, but also the largest manufacturing base.
China's manufacturing industry, intermediate goods, and parts supply the world, ensuring the stability and smoothness of the global industrial and supply chains.

Zou Jun, KPMG China's president-elect, believes that the "the Belt and Road Initiative", including RCEP, has brought a lot of advanced infrastructure to countries along the route.
On the one hand, it has driven local industries, and on the other hand, it has also boosted local employment, contributing to regional growth.

In the changing global trade landscape, South South trade has grown significantly.
A forum guest from South Africa stated that after the pandemic, emerging economies in South Africa have introduced many policies to promote local economic development, and China's economic development and recovery are very important for boosting the African economy.

Busi Mabuza, Chairman of the South African Industrial Development Corporation, stated that China, as the company's largest trading partner, is beginning to drive the South African economy through difficult times.
The benefits of achieving integration on the African continent will be enormous.
She is pleased that countries such as China have a steady interest in such investments, and has seen some railway projects in Kenya.

The attending scholars stated that geopolitical tensions are one of the reasons for the contraction of global trade.
In this context, the diversification of global trade routes should be promoted.

Professor Chen Xiaoyang from the Elliott School of International Affairs at George Washington University in the United States said, "In the past few years, we have seen the interruption of physical trade routes, not only the Suez Canal, but also the Panama Canal. This is actually encouraging companies to seek alternative corridors, such as the Central Corridor and the Southern Corridor. This requires governments of all countries to work together to expand their capabilities, including railways, highways, oceans, transportation, and more

The attending representatives believe that while the global trade pattern is changing, China is also creating huge opportunities for global trade through its influence.
The international community should abandon factional opposition, oppose decoupling and disconnection, maintain stable and smooth industrial and supply chains, better promote trade and investment liberalization and facilitation, and guide the healthy development of globalization.