More open and inclusive globalization is what the world needs now to overcome the COVID-19 pandemic, achieve a global economic recovery, and promote common prosperity for all Countries.

Extracts from the translated version of the Commentary of President Xi Jinping’s are as follows:

In the past year, some people have used the pandemic as an excuse for opposing economic globalization, but actually, globalization is the way to defeat the pandemic.

Just as Chinese President Xi Jinping said at the World Economic Forum Virtual Event of the Davos Agenda on Monday, “Economic globalization is a natural outcome of scientific and technological advancement. It serves no one’s interest to use the pandemic as an excuse to reverse globalization and go for seclusion and decoupling.”

Admittedly, globalization brings about some new issues, but they are not a reason to reject them. Rather, we should adapt ourselves to globalization and eliminate its negative impacts.

Especially after the outbreak of COVID-19, people can clearly see that the research and development of coronavirus vaccines rely on cooperation among scientists from all over the world. Vaccine distribution relies on global logistics networks that reach to all corners of the world. And the recovery of the world economy requires the restoration of global industrial supply chains. It has become an international consensus that globalization is an irreversible trend.

More open and inclusive globalization is what the world needs now. This is the Chinese answer to overcoming global health crises like COVID-19, closing the divide between developed and developing countries, and jointly bringing about growth and prosperity for all.

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China has always been a firm upholder of economic globalization and is actively making its own contributions.

Facing the pandemic, China has provided assistance to over 150 countries and 13 international organizations, sent 36 medical expert teams to countries in need, and strongly supported and actively engaged in international cooperation on COVID-19 vaccines.

“It is especially important to scale up cooperation on the research and development, production and distribution of vaccines and make them public goods that are truly accessible and affordable to people in all countries,” said Xi, addressing the World Economic Forum Virtual Event.

Under the uncertainties of the world economy, China has firmly implemented its opening-up policy and maintained the stability of global industrial supply chains. The Belt & Road Initiative proposed by China is promoting the common development of all countries. In 2020, China became the only major economy to achieve positive growth, which is of great significance to the world.

To realize more open and inclusive globalization cannot rely on the efforts of just a few countries, but rather needs global consensus to reject discriminatory and exclusive standards, rules, and systems, or the imposition of high barriers that impede trade, investment, and technological advancement.

Just as Xi said at the World Economic Forum, “No global problem can be solved by any one country alone. There must be global action, global response, and global cooperation.”

Also Read: Future of World Trade & Globalization