The Think Tank & Media Forum on Global Economic Development took place in Beijing on March 8. Themed "Exploring new measures for win-win cooperation, and sharing new achievements in global development," the event, hosted by China International Publishing Group (CIPG), attracted both Chinese and international experts, who shared their thoughts on global economic recovery and global governance in the post-pandemic world. This is an edited excerpt from what some participants said: 

Du Zhanyuan, President of CIPG 

Since COVID-19 started, health and safety issues, concerns about economic development and the improvement of people's wellbeing have topped the list for countries in epidemic turmoil.

Due to the pandemic, the world is suffering the worst economic recession since World War II. The World Bank said in October 2020 that 40 percent of the world's population lived below the $5.5-per-day international poverty line.

The question remains: Which country possesses those indispensable key assets to shoulder the responsibility for future global development? Major countries need to actively respond to major responsibilities through practical actions.

In 2020, China's GDP exceeded 100 trillion yuan ($15.4 trillion) for the first time and China was the only major economy to experience positive growth.

In his government work report to the national legislature on March 5, Premier Li Keqiang said China's GDP is expected to grow more than 6 percent in 2021. Although faced with many uncertainties and challenges, the fundamentals of China's long-term economic improvement remain unchanged. Throughout the next five years, China will gradually forge a new pattern of development, in which domestic and overseas markets reinforce each other, with the domestic market as the mainstay. We welcome all countries to collaborate with us with the aim of achieving common prosperity.

Responding to common challenges and moving toward a better future not only requires economic and technological growth, but also demands better communication and mutual understanding between different cultures and civilizations. As major differences emerged regarding the direction of global economic development as well as the methods of collaboration, we must avoid misunderstandings through exchanges. CIPG made its contributions.

In recent years, we have worked with think tanks and media outlets, both at home and abroad, to establish various forms of dialogue platforms and cooperation projects, focusing on cultural exchanges and mutual learning among different societies. In 2020, we hosted 10 events together with our overseas partners through virtual dialogues and exhibitions.

The COVID-19 pandemic has taken a heavy toll on the world. We need to draw lessons from it and take timely measures. Let us now all make a concerted effort to promote economic recovery in an all-round way, work hard to advance the UN 2030 Agenda for Sustainable Development, and jointly build a community with a shared future for humanity.

Jean-Pierre Raffarin, former Prime Minister of France 

When it comes to economic development, we must always seek to better know and understand each other. Only through better communication and interaction can we understand each other better and achieve the common goal of world peace. It is important that economic development lies at the very heart of global governance because what the world needs now, more than ever, is growth, development and shared benefits.

Consequently, any form of unilateralism or protectionism does not indicate the right direction, and only as a team can we address the challenges. Moreover, collaboration often requires innovation, whether it be in terms of food production or technological advancement. The research and development of COVID-19 vaccines is one prime example of the demand for innovation. And together, we all still have a long way to go in fostering cooperation.

We cannot tackle global governance challenges without working together. In today's world, no country can succeed on its own. It is important to recognize that we are a community, a group of people with a shared future on this planet.

Planetization is the future of globalization, and this is the path we are headed down. The fundamental target of economic development is the happiness of the people; the happiness of the people requires peace.

Chen Wenling, chief economist at the China Center for International Economic Exchanges 

Although economic recovery has recently emerged in several countries, especially in the U.S., it is often based on increasingly high deficits. Global debt has reached its highest level ever.

Meanwhile, poverty plagues humanity. Nowadays, 20 percent of the population uses 80 percent of the world's resources, 1 billion people still struggle to access clean drinking water, and a further 1 billion worldwide face starvation. Therefore, these global challenges and problems require cooperation from all countries to address them.

The world needs solidarity, cooperation and multilateralism. But what kind of multilateralism should we uphold? It should not be driven by self-interest that puts the interests of one country above those of the world at large. It should not aim to contain other countries and create a system of small circles. It should not take the continuation of one country's supremacy as its main strategic goal.

True multilateralism consists of reaching consensus, setting up common goals, complying with common rules and standards, and taking common action. The essence of multilateralism is to maintain peace and normalize relations between countries, as well as ensure the essential right to development prevails for all, no matter how big or small. This is also the spirit of multilateralism set forth in the UN Charter.

Multilateralism features equity, development, mutual benefit and win-win results, and sharing the new achievements of global development. Nations worldwide need a correct understanding in order to get back on the right track of multilateralism.

Sudheendra Kulkarni, founder of the Forum for a New South Asia 

The rise of China has accelerated changes in the global economic and political order. The world is no longer a unipolar entity, and the U.S. is no longer its No.1 dominant force.

China's development is an extremely helpful example for the promotion of global diplomacy. However, those who dominated the old world order have yet to reconcile with this new reality. In the economic sphere, the latter nations are trying to break and disrupt global industrial supply and value chains, all in the name of reducing the global dependence on China. In the strategic sphere, they are trying to construct a NATO-like alliance in Asia. These attempts are doomed to fail.

In the post-pandemic era, we can neither deny nor ignore the fact that the status quo of global development is extremely out of balance. Even though China has eliminated extreme poverty, nearly 10 percent of the global population, some 700 million people, still have to survive on only $2 a day. The World Bank estimated that an additional 88 million to 115 million people fell into extreme poverty in 2020, with the total rising to as many as 150 million by 2021, because of the pandemic. Additionally, it is quite the paradox that the number of billionaires has increased during the pandemic.

Consequently, freeing the world of poverty must become a primary goal in global development. However, a merely quick global economic recovery does not suffice in this regard. The world needs to build on a new dream of equitable and sustainable development.

Major economies must take on a bigger role in reaching a fully carbon neutral and carbon recycling economic development. To make this dream a reality, the world must fully embrace and adopt new and green technologies. Another prerequisite in this regard is extensive cooperation and preparation among major economies to reach the goals and commitments of the Paris Climate Agreement.

India and China should peacefully resolve all our differences in the light of the combined wisdom of our civilizations. Furthermore, India and China should join forces to move forward and build cooperative relations with all countries in the South Asian region, including relations between India and Pakistan.

(Print Edition Title: Only One Way Out) 

Copyedited by Elsbeth van Paridon 

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