FM: Promoting trade tops diplomacy agenda

(Xinhua)
Updated: 2009-03-11 19:48

CRISIS & OPPORTUNITY

Over the past decades, China has begun to take a less confrontational, more sophisticated, confident and constructive approach toward regional and global affairs.

Despite its severe impacts, many believe the international financial crisis also means an opportunity for China to upgrade its economic structure and increase its influence in international affairs.

Tang Min, deputy secretary general of the China Development Research Foundation, said China has for a long time stayed outside the international economic order. The international financial crisis gave the country an opportunity to participate in the reform of the order.

"Now the prime time of investment bank has gone and the old order was proved not efficient. The need of setting up a new order is pressing. Every country seems to stand behind one jumping-off point. China will have a bigger say."

China, in fact, has expressed its hope for a "just, equitable, sound and stable" economic order.

Chinese Premier Wen said in a speech at World Economic Forum Annual Meeting in January that it is important to speed up reform of the governance structures of major international institutions, establish a sound global financial rescue mechanism, and enhance capacity in fulfilling responsibilities.

"Developing countries should have greater say and representation in international financial institutions and their role in maintaining international and regional financial stability should be brought into full play," he said.

At Saturday's press conference, Foreign Minister Yang said China hopes the April G20 summit in London would yield "positive" results in boosting confidence, strengthening coordination on macroeconomic policies, stabilizing financial markets, undertaking necessary reforms in the global financial system and regulatory regime.

Besides economics, China is also expected to be one of the key players in many other international affairs, such as the climate change conference in Copenhagen and reforms of the UN Security Council.

"China's real responsibility to the world in the future lies in the efforts to maintain global prosperity and stability and to achieve the UN millennium goals," Prof. Qin said.

Jiang Yong, a researcher with the China Institutes of Contemporary International Relations, said China does have the opportunity to shoulder greater international responsibilities, but the opportunity does not come easily.

"How to help other developing countries, how to keep its foreign exchange rate relatively stable, how to cope with international trade protectionism... Those specific problems test the wisdom of the Chinese leadership," he said.

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