Original Source: Beijing Daily
Official newspaper of the CCP Beijing Municipal Committee, published since 1952.
Yao Yang, a leading economist at Peking University, argues pessimistic assessments of China’s growth trajectory underestimate strengths of the Chinese economy. These strengths, in Yao’s view, include China’s technological prowess, especially in clean energy products of the future such as EVs and solar panels, and its scale and cost advantages in manufacturing. Yao argues that Western efforts to “derisk” may impinge on China’s technological development temporarily, but will come at higher costs for the United States and its partners, given the funds required to reshore manufacturing and the projected revenue losses of selling key technology products to China.
When Xi Jinping announced the Global Development Initiative (GDI) in late 2021, important questions were raised about the future of the Belt & Road Initiative (BRI). Here, two scholars from Renmin University argue that the GDI is an addition to, not a replacement of, the BRI. They tout the GDI and BRI as the “main drivers of global South-South cooperation” and useful tools to address the North-South gap and promote the UN 2030 Agenda for Sustainable Development.