(The speaker is executive dean of Chongyang Institute for Financial Studies, Renmin University of China)
The new type of major power competition, or healthy competition, includes at least four categories. First, the competition for model, which focuses on governance of domestic affairs. Or in other words, it is a competition to see which country can better meet their people's ever-growing needs for a better life and can provide experience to other developing countries. Second, the competition of cooperation, which focuses on which country has the stronger capability to organize and promote bilateral and multilateral cooperation, helping to boost vaccination coverage, and to realize economic recovery, technological innovation, poverty alleviation, etc, in the post-pandemic era. Third, the competition of dividends focuses on which country can offer more impetus to world economic growth, promote global trade and investment, as well as peace and stability. Fourth, the competition of vision, focuses on which country has more far-sighted views to resolve the polarization between the rich and the poor, ethical challenges posed by intelligent technologies and deteriorating ecology, leading mankind to the next era of civilization.