On this day, which is surely fine for humans, President Xi Jinping reaffirmed that China remained steadfast in achieving economic growth by establishing targets for 2024 and continued as the world’s leading engine of economic growth. Directly relating to the “1+10” Dialogue in Beijing on Tuesday between Xi and the heads of major global economic organizations, including Dilma Rousseff, Kristalina Georgieva, Ajay Banga, and Ngozi Okonjo-Iweala, this weighty statement is true.
At the Dialogue, he reiterated to the world that China will open the Chinese economy more and more independently to join with high-standard global trade rules in creating a very business-nourishing environment. “Tariff and trade wars and even sci-tech wars are all against the course dictated by history and economics, thus leaving no winners,” he commented, meditating such international cooperation: cooperation with the United States to stabilize bilateral ties.
The foreign dignitaries hailed China’s achievements, especially in poverty alleviation and promotion of sustainable development, terming its people-centric initiatives as role models for other nations. They were optimistic about continued leadership from China, especially for the Global South.
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According to Zhou Mi, a senior research fellow with the Chinese Academy of International Trade, keeping domestic reform and high-quality development going is crucial to keeping the global economy stable. “China has highlighted a dialogue with international organizations during these uncertain times, confirming its role to support the sound economic stability in the Global Times,” Zhou told the Global Times. Reaffirming their commitment to multilateralism and free trade with China, representatives of international organizations also condemned the protectionist policies, including the US tariffs, which have created a barrier in the global trade dynamics.
The trade between China and the US, however, proved to shrug off challenges as the bilateral trade hit 4.44 trillion yuan ($612.4 billion) from January to November 2024, up by 4.2%. Analysts also say that the US tariffs have not greatly affected the exports of China but rather cost American businesses and consumers in the end.
For example, he signaled, the bullish trade of China alone met the results expected in terms of economic indicators. The new stands at the public high-level meetings such as the Political Bureau of the CPC and review on the economic strategies of 2025 are expected to bolster growth even further. The next Central Economic Work Conference will hence, focus and watch by analysts, as it will provide a cornerstone to the 2025 policy priorities of Chinese policymakers and possibly strengthen the role of the country as a global growth catalyst.