Xi Jinping Calls for Inclusive Globalization at APEC CEO Summit

Xi Jinping Calls for Inclusive Globalization at APEC CEO Summit

Chinese President Xi Jinping delivered a compelling message at the APEC CEO Summit 2024, calling for a universally beneficial and inclusive approach to economic globalization. In his written speech to the summit, Xi emphasized the Asia-Pacific region’s integral role in the global economy and urged collective efforts to navigate the challenges facing globalization today.

“The entire Asia-Pacific is deeply woven into the fabric of economic globalization and is now an interdependent community with common interests and a shared future,” Xi stated. He highlighted that despite the world’s current turbulence and transformation, the general trend of economic globalization remains unchanged.

Xi warned against attempts to hinder economic cooperation and disrupt global interdependence, describing such actions as “backpedaling.” He likened the grave challenges of economic globalization to “sailing up a river—we either forge ahead or drift downstream,” pressing the importance of decisive action.

Three Pillars for Global Economic Growth

President Xi outlined three key areas to promote stronger global economic growth:

  1. Innovation as a Driving Force: Xi underscored the necessity of innovation in science and technology benefiting all humanity. He advocated for aiding developing countries in building capacity in these areas and promoting the global flow of knowledge and technologies.
  2. Reforming Global Economic Governance: He called for keeping pace with the times and reforming the global economic governance system. Xi emphasized following the principles of “plan together, build together, and benefit together,” and enhancing the representation and voice of the Global South to ensure equal rights and opportunities in international economic cooperation.
  3. Addressing Development Imbalances: Xi stressed a people-centered approach to settle imbalances in development. He noted that true development involves common progress for all countries and that economic globalization should deliver more balanced development and equal opportunities.

The Asia-Pacific’s Role in Globalization

Reflecting on the remarkable growth of Asia-Pacific economies, Xi attributed the region’s success to its commitment to peace, stability, true multilateralism, and open regionalism. “The Asia-Pacific has maintained robust growth and created the remarkable Asia-Pacific miracle,” he remarked.

Looking forward, Xi called on the Asia-Pacific region to remain the locomotive of economic globalization. He urged efforts to foster a green and digital Asia-Pacific, build a community with a shared future, and usher in another “30 golden years” of development.

China’s Commitment to Global Growth

Xi highlighted China’s ongoing efforts to deepen reform and advance high-quality development as part of Chinese modernization. He expressed confidence in meeting China’s growth targets and remaining a key engine of global economic growth.

“China will stay firmly on the path of green development and continue to be an important force for global green transition,” he said. Xi also emphasized China’s commitment to opening its doors wider to the world, sharing development opportunities, and expanding high-standard free trade areas.

A Call for Solidarity and Cooperation

Concluding his speech, President Xi stressed the importance of enhancing solidarity and cooperation in the face of global challenges. “As long as we act in the spirit of openness and connectivity, the vast Pacific will become a thoroughfare for more prosperity and growth,” he asserted.

Xi urged collective action to form a “mighty force for the common prosperity of the world and a brighter future for humanity,” reaffirming China’s dedication to working alongside the Asia-Pacific and the wider international community.

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