After working in Southeast Asia for nearly two years, I have noticed that people constantly ask questions such as “Where are the Chinese representatives?”, “What’s China’s opinion?” and “What would China do?” in relation to either bilateral or multilateral issues regardless of whether or not the topic involves China. This strongly suggests that the idea “China cannot be absent” in global governance has become an international consensus. With its role in global governance transforming from a participant to a leader, China’s wisdom and strength have heightened international expectations for promoting world economic growth and improving global governance.
Looking back at the past year, 2016 saw a sluggish world economy and undercurrents of deglobalization. A series of unexpected events, like Britain’s referendum on leaving the EU and Donald Trump’s election as United States president, have made the prospect of a new international economic order gloomy. However, challenges always breed opportunities. As China has emerged as a major player on the global stage, questions of whether China can offer solutions to overcoming obstacles in global governance and provide valuable public goods for international economic systems have been heatedly discussed at home and abroad over the past year.
In 2016 alone, China delivered clear, powerful and positive signals in global economic governance. A 6.7 percent economic growth rate allowed China to play a leading role in boosting global economic growth. A number of remarkable achievements, including the inclusion of the RMB in the SDR basket and the establishment of Asian Infrastructure Investment Bank, greatly heightened the position of developing countries in the world economic system. The “China prescription” proposed at the G20 summit in Hangzhou gave a strong impetus to the world economy, and in particular, created opportunities for developing countries, small and medium-sized enterprises and young people to fully participate in the process of globalization. Theories of major-country diplomacy with Chinese features, such as the vision of a community of shared interests, a community of shared future for mankind and a global partnership for win-win cooperation, have pictured a “Chinese roadmap” for the development of new-type international relations, especially in the international economic order.
China is actively exploring time-honored Chinese civilization for valuable governance concepts, making contributions to global economic governance in adherence to the principles of consultation, joint development and sharing. Within the framework of the UN and other international organizations and multilateral mechanisms, China has succeeded in developing its initiatives into international consensus and actions on major global governance issues like sustainable development, climate change, energy and network security. Standing at a new historical starting point, China will serve as ballast for the world economy. It can provide impetus to global economic growth, build a solid foundation for international cooperation, and make great contributions to all-round development of human beings.
Looking forward to the prospect of 2017, China will play a more important role in global economic governance. In Southeast Asia alone, a number of Chinese-led projects have been established to promote economic cooperation and strengthen regional connectivity, including the high-speed railway from Jakarta to Bandung in Indonesia, the Laos-China Railway, the Sihanoukville Special Economic Zone in Cambodia and the Bangladesh-China-India-Myanmar Economic Corridor. To help establish a new international economic order, China needs not only initiatives and proposals, but also pragmatic cooperation and effective implementation of projects.