China's Global Economic Leadership: Insights from Yves Leterme video poster

China’s Global Economic Leadership: Insights from Yves Leterme

China’s remarkable journey over the past four decades has solidified its position as a key driver of global economic growth and progress. Former Belgian Prime Minister Yves Leterme recently shared his admiration for China’s unprecedented economic and social advancements since it re-engaged with the global economy more than 40 years ago.

“My admiration goes to the opening of China re-engaging in the global economy, decided over 40 years ago, and to the unprecedented economic and social progress that has been made since then, year after year, to the benefit of all Chinese citizens and to the benefit of the whole world,” Leterme stated.

He highlighted the crucial elements that have led to China’s outstanding performance, emphasizing the “interpenetration and interconnection of the Chinese and other economies worldwide.” This synergy has resulted in increased foreign direct investment, shared technological progress, expanded trade, and mutual access to export and import markets.

Leterme noted that China’s successful economic and social development has made it the most important engine of worldwide economic growth and progress over the past decades. The nation’s commitment to opening up and fostering global partnerships has contributed significantly to this achievement.

Looking ahead, Leterme expressed optimism about China’s role in promoting true multilateralism. “President Xi Jinping has in the recent past several times strongly expressed his willingness to contribute to strengthening again true multilateralism. Let us hope this can become reality and can open the way for a more balanced world, and make an efficient answer to the global challenges possible,” he said.

As the world navigates complex challenges, China’s continued engagement and leadership in global economic affairs are seen as vital for fostering cooperation and achieving sustainable development.

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