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Bad-mouthing China won't change trajectory of its economy

Source:China Daily 2024-04-03

Employees work at a production facility for display units in Chongqing on March 14. [Photo/Xinhua]

In recent years, some politicians in certain Western countries have continued to try and cast a shadow over China's economy, forging and spreading various negative opinions, which actually stem from their deep-rooted zero-sum game mentality.

China's economic development cannot be changed by their bias. Comprehensive analysis shows that China's economy has strong resilience and self-adjustment capabilities, and still has huge development potential.

In 2023, against the background of the global trade volume shrinking by approximately $1.5 trillion, China's import and export scale increased steadily, and the quality of the country's development has also improved, especially its exports of electric vehicles, lithium batteries and photovoltaic products. In the first two months of this year, China's exports increased by 10.3 percent year-on-year, once again exceeding market expectations.

The advantages and potential of China's economy are not only reflected in foreign economic and trade cooperation, but also in the continuous transformation and upgrading of its economic structure. Relying on its abundant human resources, huge market scale and high-intensity R&D investment, China's economic growth continues to gather momentum.

At present, there is still considerable room to improve and upgrade China's traditional industries. The country is accelerating the development of its health, tourism and cultural industries, etc. As investment in technological innovation continues to increase, various high value-added products and globally competitive companies continue to emerge.

In an era when game-changing technologies are appearing and advancing at an exponential rate, China's science and technology have gained sufficient momentum and huge potential for further development. This includes not only cutting-edge technology formats with promising prospects, but also the smart transformation of industries such as shipbuilding and aviation manufacturing that continue to consolidate China's dominant position in manufacturing.

The "decoupling and de-risking" attempts of some countries targeting China cannot check its development and progress. At present, it is precisely because these countries have blatantly abandoned multilateralism, constantly created geopolitical tensions and impacted the global economic governance system that the risks facing the world economy have increased.

China firmly opposes unilateralism and protectionism. The development of new quality productive forces in China will create more development opportunities for itself and other countries. The development of China's green industry is proof of that. In the process of promoting green development, China's new energy industry has developed rapidly, not only providing low-cost and more mature new energy products for global green development, but also helping many countries create jobs, promoting common development and prosperity through practical actions.

In the face of the sustained external pressure, China has demonstrated a more independent and powerful development trend as it has had to overcome various difficulties and challenges. In doing so, it continues to bring more opportunities and hopes to international cooperation.

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