Uniting for Shared Prosperity
Chinese premier Li Qiang kicked off the ASEAN-China-GCC Economic Forum in Kuala Lumpur on May 27 by laying out a vision for trilateral cooperation. Facing headwinds like geopolitical tension, he argued that unity can turn challenges into lasting opportunities.
1. Turning Challenges into Opportunity
Li's first point: in a world where globalization is tested by protectionism and supply-chain shocks, solidarity is the answer. By removing trade barriers and connecting markets, ASEAN, China and GCC members can form one of the globe's largest intra-regional markets—boosting growth for businesses big and small.
2. A Legacy of Cooperation
He traced the bond back more than 2,000 years to ancient caravan routes and early fleets in Southeast Asia. Today, this history underpins future potential: just 25 percent of the world's population and economy account for only five percent of global trade. Deepening trade ties could unlock untapped markets, faster logistics and richer innovation ecosystems.
3. China's Economic Momentum
China's economy is delivering high-quality development, Li said. He cited data: 5.4 percent GDP growth in Q1 2025; industrial output up 6.4 percent; exports up 7.5 percent; high-tech manufacturing up 9.8 percent; high-tech services up 11.3 percent; and over four million new energy vehicles sold. With smart factories covering 80 percent of production, China is ready to inject fresh energy into trilateral partnerships.
Looking ahead, Li emphasised aligning development strategies, upholding the WTO-centered multilateral trading system, and seizing high-tech and supply-chain innovation. His closing message, cooperation is the only right way to overcome common challenges, was a call for ASEAN, China and GCC to chart a course toward shared prosperity.
Reference(s):
Full Text: Li Qiang's speech at ASEAN-China-GCC Economic Forum
cgtn.com
