China’s growth is experiencing structural changes and is moving toward greater integration with the global economy, said one economist.
Signs indicate that China’s role in the global economy is growing, with the market playing an increasingly bigger role in relocating resources across the country, Kabul University Vice Rector Reza Farzam said in a recent interview.
China’s opening-up policy will have far-reaching, long-term effect on the country’s economic stability and growth, the expert said.
Despite data showing that China’s economy continues to slow, it remains the world’s second largest economy, said Farzam.
He also said that China’s policies are having a positive impact on the global economy.
China proposed development endeavours, particularly the Belt and Road Initiative, will have a long-term effect on both China and other nations along the routes, said Farzam.
China is trying “to give a firm guarantee that the Belt and Road Initiative would provide sure economic development for both the country and those nations living around the (Belt and Road) route,” said Farzam, also professor at Kabul University’s Faculty of Economy.
Other sub-projects, like the Lapis Lazuli road connecting to the Chinese transit and trade belt and the Aqina Port railway, would play a vital role in Afghanistan’s economic growth, he added.
The Lapis Lazuli road refers to the Lapis Lazuli International Transit Corridor, a joint project by Turkey, Afghanistan, Turkmenistan, Azerbaijan and Georgia. The Aqina Port Railway is a railway section linking Imamnazar in Turkmenistan and Aqina in Northern Afghanistan, which is a part of a 400-km railway project linking Turkmenistan, Afghanistan and Tajikistan.
Regarding China’s fight against poverty, Farzam said the country’s economic growth is its best weapon to beat poverty as well as pollution and to tackle other economic problems.
He said due to growing living standards in China, public awareness about the negative consequences of environmental pollution is improving.
Farzam said China has prioritised minimising pollution in order to “lessen the negative environmental outcomes that are feared to affect not only China but the world as well.”