integration－trade, investment and finance－began benefiting large emerging and developing econ
omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m
ust also serve poorer and faster-growing economies, which today account for most of the global growth.
So, by flirting with trade protectionism and punitive tariffs on imports, adva
nced economies are seeking to implement the wrong policies at the wrong time. As the adv
anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco
nomies is not a win-lose game, because it benefits the advanced economies, too.
In the aftermath of the 2008 global financial crisis, all major advanced econom
ies would have faced another Great Depression without the support of large emerging economies, particularly Ch
ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.
an independent choice based on the objective need of the country’s reform and development.
This is helpful in promoting high-quality growth, meeting the people’s need
s for a better life and promoting peace, stability and development of the world, he said.
China also hopes that other countries will create a good investment environment, treat Chinese enterpris
es, students and scholars equally and create a friendly environment for their normal international exchange activities, Xi said.
Xi pledged to take stronger measures to promote international cooperation in protecting intellectual pro
perty, which he said is not only crucial to protecting the legal rights of companies but also to promoting high-quality growth.
China will enhance policy coordination with the world’s major economic entities and j
ointly promote the robust, sustainable, balanced and inclusive growth of the global economy, he said