Former Vice Chairman of the United Nations (UN) Business Council John W. Allen on Sunday highly commended China’s Market opening Policy and Practice, and slammed protectionism.
“China’s market opening benefits all Countries including China itself,” said Allen, while commenting on the week-long China International Import Expo 2019, which is scheduled to kick off Tuesday in the eastern Chinese city of Shanghai.
“Protectionism is self-defeating. It creates short-term gain and long-term pain for those who practice it,” he added.
Commenting on the fact that more than 3,000 Exhibitors from over 150 Countries and Regions will attend the import fair when the world economy is experiencing a sluggish growth, Allen said “this will prove the value” of the Chinese market and countries’ reliance on and loving for the Chinese market, he said.
“Opening markets to each other is a healthy mindset, which helps all countries benefit from each other,” Allen noted.
He also spoke highly of the Chinese Belt & Road Initiative, noting that it is a very good example displaying China’s determination to adhere to a long-term open policy.
Talking about the significance of the import fair to the UN 2030 Agenda, Allen said the agenda is a template for “global peace and prosperity.”
“Maintaining steady and fast export plays a vital role in boosting economic growth for all member states, especially for the poor countries. If China keeps its market wide open to all, it will dramatically help boost related countries’ economic growth,” he said.
Talking about the responsibility of a big country, Allen said that China has notably enhanced its reputation as an important stakeholder of the global community by upholding free trade system.