Chinese Ambassador to the United States Xie Feng recently gave an exclusive interview to Tom O’Connor, Senior Foreign Policy Writer at Newsweek, discussing China’s new quality productive forces and their implications for the Chinese economy and global development.
Ambassador Xie elaborated on the meaning of new quality productive forces and their current phase of development in China. He emphasized that as China strives to expand domestic demand, these forces will act as a catalyst to unleash the vitality and potential of China’s vast market. The upgrading of traditional industries and the emergence of new ones, he noted, will further energize China’s growth and generate significant investment and consumption opportunities.
Regarding the impact on China-U.S. economic relations, Xie highlighted that visionary investors from the United States and other countries are eager to seize unprecedented opportunities in China. “Of course, opening-up needs to be a two-way street. It should not be a solo, but a chorus by all,” he stated.
Ambassador Xie cautioned against efforts to constrain the flow of knowledge, technology, talent, and other innovation factors through protectionism and decoupling strategies. “If anyone is bent on constraining the flow of knowledge, technology, talents, and other factors of innovation by building a ‘small yard, high fence,’ suppressing others’ competitive platforms and industrial capacity through decoupling, and trying to monopolize innovation resources, it would only widen the technological divide and stifle global development,” he warned.
Addressing concerns about China’s “overcapacity,” Xie dismissed such accusations as untenable. “Globally, high-quality industrial capacity and new-quality productive forces are not excessive, but in dire scarcity,” he asserted.
He pointed to the robust growth of China’s new energy sector as evidence of the country’s innovation prowess, citing companies like BYD, a private enterprise, and Tesla, an American company operating in China. “The vigorous growth of China’s new energy sector relies on the businesses’ innovation edge forged amid global competition and high-quality products, not on so-called subsidies or protection,” he explained.
Ambassador Xie concluded by emphasizing the importance of seizing opportunities in China. “What people should worry about is not whether China’s growth would peak, but whether they would miss the opportunities in China. And rather than speculating about whether the Chinese economy would collapse, what should truly alarm people is how decoupling could drag down global recovery and how geopolitical conflicts could end the eight-decade-long world peace.”
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Xie Feng gives interview to Newsweek on new quality productive forces
cgtn.com
