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Boao Forum for Asia to champion for inclusive globalization

By Hu Yumeng in Boao, Hainan and Jing Shuiyu in Beijing | chinadaily.com.cn | Updated: 2017-03-22 19:39

A more inclusive globalization is indispensable in catalyzing growth among developing countries and emerging economies amid global economic downturn, Boao Forum for Asia Secretary-General Zhou Wenzhong said on Wednesday.

The development of globalization has "entered a critical moment", according to Zhou.

"All countries need to collaborate to explore inclusive and shared development, especially at a time featuring sluggish world economy, declining trade and investment volume, rising debt and over-reliance on monetary policy."

Zhou made these remarks at a press conference one day before the Boao Forum for Asia Annual Conference will kick off on the southern island.

"Globalization is not an abstract concept", he explained further. "The Belt and Road Initiative, that President Xi Jinping proposed three years ago, is the country’s solution to make globalization work, with a goal to build a community of common destiny."

Against such background, every country needs to find a proper position and equalize the dividends of globalization among themselves, he said.

The four-day conference, themed "Globalization & Free Trade: The Asian Perspectives," is dedicated to championing a more inclusive globalization process through cooperation and dialogue.

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