Published: 17:39, June 20, 2024
Offering optimism for all
By Khalid Taimur Akram

West selling Global South short but China delivering a vision for a shared sustainable future

China’s contribution toward sustainable growth in the world encompasses a transformative journey that illuminates a path of progress for nations across the globe. Yet the manufacturing and fanning of allegations about China’s industrial “overcapacity” portends the opposite trend of “overprotectionism” in some advanced economies.

For decades China struggled to modernize its industries and agriculture. Today it has ascended the value chain and reshaped global supply chains. It has grown into a manufacturing powerhouse that has harnessed the potential of intermediate goods trade and expanded its trade footprint to solidify its position as a global trading giant.

By fostering the development of primary manufacturing industries in partner countries, China is forging stronger ties and unlocking new avenues for mutual prosperity, bringing opportunities not only to the developing countries but also to capital-rich advanced economies. With its steadfast commitment to international development, China stands poised to enhance the collective well-being of humanity and foster a global community with a shared future.

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China has taken proactive steps to share its manufacturing capacity and expertise with other nations through projects aimed at improving people’s livelihoods. It has assisted numerous developing countries in implementing approximately 6,000 projects.

China has emerged as an epicenter of economic dynamism, transitioning from a mere potential market to the most robust and accessible market worldwide. This transformation can be seen in the immense number of Chinese goods and products reaching global markets rapidly.

In the era of rapid scientific and technological advancement and globalization, characterized by easy access to commerce, accelerated capital flows, and the integration of knowledge and ideas on a global scale, China brings its innovation, harmony, ideas and export technologies to countries for new quality growth, offering a beacon of hope and optimism for a sustainable future across the world.

Moreover, the advent of digitalization has emerged as a transformative force in driving global economic progress, with China at the forefront of technological innovation such as artificial intelligence, quantum computing and new energy. And the varied new energy vehicles it is releasing to the world are timely and much needed contributions to the global fight against climate change that should be welcomed rather than impeded.

China is spearheading the development of digital infrastructure in partner countries, laying the groundwork for a more interconnected global digital ecosystem and thus also championing South-South digital cooperation as a catalyst for sustainable development. With a footprint spanning over 140 countries and regions, China has facilitated unparalleled levels of commerce and serves as a catalyst for bolstering cross-border e-commerce, and industrial and supply chain integration worldwide.

Furthermore, China’s commitment to promoting well-being in developing countries, particularly the least developed among them, underscores its role as a responsible global stakeholder. Through its development programs in areas such as food security, disaster relief, education, and healthcare, China helps out in these areas to foster resilience in the global economy.

Through initiatives such as the Belt and Road Initiative, which was established in 2013 to foster international economic cooperation, China has been offering immense opportunities, driving investments, trade, and cooperation across regions.

China’s endeavors to upgrade transportation infrastructure under BRI play a crucial role in global development, with the country promoting infrastructure projects such as railways and roads with over 100 countries and regions worldwide, fostering stronger global connections and increasing trade.

With investments reaching up to $1 trillion and the signing of over 3,000 cooperation projects, the BRI has fostered economic progress across the world. Contrary to the empty checks issued to the Global South by some, the BRI sets a new trajectory for modernization and actively promotes the vision of a global community of shared future.

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China’s commitment to multilateral cooperation and global responsibility is evident in its active engagement in the global community, demonstrating its determination and dedication to advancing global dialogue, peace, and cooperation despite increasing protectionist measures against its companies and products by the US and some European economies.

As China strides confidently forward — guided by principles of innovation, harmony, green development, openness, and sharing — it leads global economic growth to new heights, offering optimism for a sustainable future.

The author is Executive Director, Pakistan Research Center for a Community with Shared Future (PRCCSF), Islamabad. 

The views do not necessarily reflect those of China Daily.