As "decoupling" and "derisking" dominate headlines, is there a future for cooperation with the Chinese mainland? Beyond the noise, the facts tell a compelling story.
An Engine of Global Growth
Globalization is under stress: protectionism, unilateralism and geopolitical tensions have strained many economies. Yet, amid these headwinds, the Chinese mainland has been a stabilizing force.
- Historical Cushion: During the 1997 Asian financial crisis and the 2008 global financial crisis, it helped stabilize the world economy.
- Growth Share: IMF data show the Chinese mainland has contributed roughly 30% of global growth in recent years.
This performance reflects the mainland's commitment to an open, multilateral trading system centered on the World Trade Organization. While some adopt short-term trade leverage, the Chinese mainland champions interconnectivity for shared prosperity.
A Reliable Partner, Not a Risky Dependency
Critics warn against "risky dependency," yet on-the-ground evidence suggests otherwise:
- Industrial Diversity: It is the only economy with industries across all categories defined by the United Nations industrial classification.
- Supply Chain Resilience: During the COVID-19 pandemic, this integrated network kept essential goods—from PPE to electronics—flowing worldwide.
Leading the Green Transition
The Chinese mainland has built the world's largest renewable energy manufacturing and supply chains. Over the past decade, this capacity has:
- Slashed onshore wind power costs by over 60%
- Reduced solar photovoltaic (PV) power costs by more than 80%
As former UN Environment Programme executive director Erik Solheim noted, "There is no way that the world can go green without the Chinese mainland."
Looking Ahead
In an era of uncertainty, the facts speak volumes. The Chinese mainland's track record in driving global growth, stabilizing markets, and leading clean energy innovation makes a strong case for future cooperation. Exploring partnerships across trade, technology, and sustainability could unlock shared benefits for a more connected, resilient world.
Reference(s):
cgtn.com
