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China will not lose heart in pursuit of better world: China Daily editorial

chinadaily.com.cn | Updated: 2018-08-09 20:26

With the Trump administration firing a second barrage of tariffs — 25 percent tariffs on imports from China worth $16 billion — and China retaliating in kind, the possibility that the two countries are heading for a prolonged trade conflict has to be faced.

But the trade hostilities will not dampen Chinese people's confidence in the development path the country has chosen since the policy of reform and opening-up was launched 40 years ago.

It is not just because China has developed a model of its own for economic development in the past decades, which promises bright prospects, it is because they believe it is pursuing the right goals.

[Photo/VCG]

If it had not opened up to the outside world, China would not be what it is now. Therefore, China is resolute in its defense of the globalized trade regime and is doing whatever it can to fight against trade protectionism and unilateralism.

Admittedly globalization has not been perfect, it does have some undesirable side effects, such as the unfair distribution of social wealth, that have fueled the rise of populist movements in some parts of the world and resulted in a backlash against globalization.

However, these are only growing pains for what is, after all, only a relatively recent development for the world economy. Trade protectionism is not the therapy and neither is unilateralism; the problems need to be addressed within the framework of the global trade regime.

China's belief that the international community has a shared future is the right direction for globalization. Thus it is shoring up confidence that the difficulties can be overcome by fighting against trade protectionism and unilateralism.

The first China International Import Expo to be held in Shanghai in November is a manifestation of the country's strong will to open up further to the outside world, and of its firm belief that an open and inclusive world economy along with a free trade regime are indispensable to achieve the sustainability goals that represent a better life for everyone.

That explains why China will not cave in to the US' threats and blackmail that are a characteristic of Washington's trade protectionism and unilateralism. That is also why China and its people will not lose heart in their defense of the free trade regime and the pursuit of a better world with a shared future.

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