China is adding momentum to Asia Pacific cooperation through its own development (International Forum)
Strengthening Asia Pacific cooperation is not only an economic agenda, but also an institutional response and strategic choice. China's advocacy for promoting Asia Pacific growth and prosperity together is not a slogan, but an important regional development plan proposed in the turbulent international environment
In the current context of accelerating changes in the global landscape and complex geopolitics, China's advocacy for building an inclusive and open Asia Pacific economy at the 32nd APEC Economic Leaders' Meeting has received widespread attention and support from all parties in the Asia Pacific region.
For a long time, the Asia Pacific Economic Cooperation (APEC) has played a pivotal role in driving great development, prosperity, and integration in the Asia Pacific region. From promoting the agenda of regional trade and investment liberalization and facilitation, to advancing the interconnectivity of supply chains, value chains, and infrastructure, and now advocating for digital and green development, APEC has played a bridge and platform role in Asia Pacific open cooperation.
Currently, strengthening Asia Pacific cooperation has triple significance. Firstly, it helps to consolidate the synergy of regional economic growth, unleash the potential of domestic demand, and enhance the synergy between industrial and supply chains. The trade, investment, and technological connections among Asia Pacific economies are becoming increasingly close. By integrating resources and optimizing division of labor, the overall competitiveness of the region can be significantly enhanced. Secondly, regional cooperation can provide long-term stable institutional expectations for regional members through the integration of institutional rules and the improvement of mechanism construction. Once again, strengthening cooperation among all parties in the Asia Pacific region through multilateral platforms can help address differences and enhance trust, thereby improving the resilience and sustainability of regional cooperation.
Strengthening Asia Pacific cooperation is not only an economic agenda, but also an institutional response and strategic choice. China's advocacy for promoting growth and prosperity in the Asia Pacific region is not a slogan, but an important regional development plan proposed in the turbulent international environment.
Openness and integration are the main themes of Asia Pacific cooperation. It has been proven that open cooperation and integrated development are the necessary path for all parties in the Asia Pacific region to jointly face challenges and create a better future.
Open integration includes at least three levels: first, trade and investment liberalization and facilitation; The second is the deep connectivity of the industrial chain, supply chain, and value chain; The third is the integration of systems, rules, and standards within the region. At this meeting, China not only put forward policy proposals, but also demonstrated a firm willingness to work together with all parties to promote the prosperity and development of the Asia Pacific region through a series of specific commitments and measures. China will unswervingly expand high-level opening up and continue to provide new opportunities for the Asia Pacific and the world with new achievements in Chinese path to modernization. China is using its own development to increase momentum for regional integration and provide more possibilities for cooperation among Asia Pacific members. For regional economies, China's vast market, complete industrial system, and continuous institutional innovation are becoming important platforms that can be connected and shared.
At the meeting, China also proposed to jointly promote the digitalization and greening of trade, demonstrating China's willingness to engage in deep cooperation with all parties in digital technology, green industries, clean energy and other fields, shaping new advantages for innovation and development in the Asia Pacific region, and creating a new paradigm for sustainable development in the Asia Pacific region.
In the ocean of the world economy, all parties in the Asia Pacific region work together to promote the concepts of openness, inclusiveness, and win-win, and will surely usher in a brighter and more prosperous future.
(The author is Chen Bo, Senior Researcher at the Institute of East Asian Studies, National University of Singapore)