BRI allows countries to coordinate economic, trade policies

In his speech on Friday to the Second Belt and Road Forum for International Cooperation, President Xi Jinping emphasized the close links between China's domestic reform, its opening-up policies and the Belt and Road Initiative.

Xi laid out five reform and opening-up measures. Four of them will open China's markets further to international trade and investment. These include broadening market access for foreign investment, strengthening international cooperation in intellectual property rights protection, increasing imports of goods and services on a larger scale and attaching greater importance to the implementation of opening-up policies.

His fourth measure stressed the need for more effective international macroeconomic policy coordination. Why is this critical?