1000+ unique media and news posts every 24 hours…
Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics. Photo: GT
The Global Times Annual Conference 2025, themed “Advancing in Partnership: Resonance of Values between China and the World,” will be held in Beijing on Saturday. Experts and scholars held discussions on the topic: “Exploring the Path of Great Power Relations: Differences and Consensus.” Tu is more beneficial for the global economy.
Economic and trade relations can be regarded as the foundation of China-US relations and serve as ballast for their stable development. Tu pointed out that in the past, the multilateral trading system operated with the US market at its core. However, now that the US market and economy are facing problems, the past core can no longer single-handedly drive the global economy. The ‘dual-core drive’ between China and the US is more beneficial to the development of the world economy. According to Tu, China’s role in the global economy is still primarily that of a producer, and its position as a consumer has not yet been fully demonstrated.
Tu emphasized that the key question in the global trading system lies in how to coordinate the conflicting economic interests of different producers. To address this, he proposed two approaches: first, creating a larger international market through the inclusion of new members, technological advances and institutional improvements; Second, promoting a more interdependent, ‘inter-embedded’ relationship between producers.
Global times
1000+ unique media and news posts every 24 hours…