Connect with us

Hi, what are you looking for?

Imsilkroad

Interview: China critical for global economic recovery, says expert

Abstract : As China leads the world in bouncing back from the pandemic fallout, it is absolutely clear that the country is critical for the global economic recovery, an Indian expert on public policy has said.

NEW DELHI, March 2 (Xinhua) — As China leads the world in bouncing back from the pandemic fallout, it is absolutely clear that the country is critical for the global economic recovery, an Indian expert on public policy has said.

“China today is the most vibrant large economy in the world at a time when the global economy has seen contraction” and when other heavyweight players like the United States, Japan and India suffered a major blow, said Sudheendra Kulkarni, former chairman of Mumbai-based think-tank Observer Research Foundation, in a recent interview with Xinhua.

Noting that China last year achieved a stunning 6.5-percent growth in its gross domestic product (GDP) for the fourth quarter and a 2.3-percent increase year-on-year, Kulkarni said that a key milestone attested to the achievement of the world’s second-largest economy is that its GDP exceeded the 100-trillion-yuan (15.42 trillion U.S. dollars) in 2020.

Kulkarni also noted that another milestone for the northern neighbor of India was that it has completely eradicated extreme poverty, as over the past eight years the country has lifted nearly 100 million poor rural residents under the current poverty line out of poverty.

“These are historic achievements, which have great lessons for the rest of the world, and therefore China is showing its developmental path to the rest of the world in two ways,” he said.

One of the aspects of China’s development path is an economy driven by high technology and the other is also an economy that is “guided by the high quality of growth, not just quantity but high quality that results in improving the living condition of the people,” Kulkarni added.

“The COVID-19 pandemic has been a major blow to the economies around the world, and there is one lesson that we have to draw from the pandemic. It is that all countries should cooperate rather than disengage,” he said.

He called on China, the United States, and other economies like the European Union, Japan and India to cooperate with each other to reform the global economic order.

“There are some people especially in the West who have been talking of decoupling of American and Chinese economies. This is not going to work. In fact, it will be counterproductive to America and other countries in the world,” said the expert.

Kulkarni noted that China has emerged as India’s largest trading partner and recently China has completed the negotiations of an investment agreement with the European Union, which shows China’s crucial role in the global economy.

Therefore, he said, the United States and China should move in the direction of greater cooperation. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Interview: China critical for global economic recovery, says expert

Press Release Wring Service
Press Release Wring Service Senmer Press Release Service

Trending

You May Also Like

Purifier

Hot selling well newest reserch humidifier with three grades mist output air purifiers 1 Specification& function Specification Product name 6-Stage Purification Air Purifier With Negative Anion and Humidifier Model No. OLS-K05 Negative ionic releasing(/cm3) 50 million...

Purifier

Best indoor air purifier small house purification with HEPA Porduct Name Air Purifier Model A3 Style Household / business type Lowest Noise 30 dB Particulate CADR 200m³/h Highest Noise 58 dB Voltage 110 / 220V(Optional) Rated Power...

Sticky Post

Repost Your Products Articles To Web2.0 + Social Sites + Photo Sites + Bookmark Sites 0.5$ to publish 1 article to 15 sites,average just...

Purifier

We believe that always we would hear the hydrogen water have antioxidation fuction, actually we don’t know what is antioxidation and why it’s so...