China must defend globalisation with deeds and not just words
Michael Clauss says Europe is ready to work with China to strengthen an open system of trade and exchange. First, Beijing should honour its pledge to open up further
To outsiders, it might seem as if a wave of populist politics were gushing through European capitals. Critics of EU problems can also point to Brexit, to the challenges of migration and terrorism, or to the still unresolved Greek debt crisis.
However, positive signs are growing. Many of the economies hardest hit by the 2008 financial crisis are now showing impressive growth. The result of the Dutch elections is a defeat of populism fair and square. According to the latest opinion polls, in none of the upcoming elections do populist parties have a realistic power option. Germany, at the heart of Europe, is enjoying robust growth of 1.9 per cent, historically low unemployment, record export volumes and a balanced budget for the fourth year in a row. For the elections in September, German populists are a dwindling force with no conceivable path to a share of governmental responsibility.
Across party lines, German support for European integration is actually growing. No one wants our country to become less liberal and less open to the world. The same is true for much of Europe. The vast majority of Europeans believe that a strong and cosmopolitan EU is how we can best harness the forces of globalisation for the common good.
The roof of the German Parliament (Reichstag) is seen amid flags during a far-right demonstration in Berlin this month. According to the latest opinion polls, in none of the upcoming elections in Europe do populist parties have a realistic power option. Photo: EPA
Although Europe’s prospects to play a leading global role are much better than its reputation, there is a strong sense that we are witnessing tectonic shifts in the global order. The future course of US policy is still unclear in many respects. However, it would be a huge surprise to see it morph into a champion of multilateralism.
President Xi’s global audience is waiting for China to back up its talk with action
This is why President Xi Jinping’s (習近平) speech in Davoscaused such a stir around the globe. It has been widely interpreted as a signal that a rising China is ready to enter the world stage towards goals that Germany also holds dear: safeguarding the institutions and principles which let us profit from globalisation and dealing with its unintended side effects. Among other things, these include an effective and well-funded UN, the implementation of the Paris climate accord, and, a rules-based free trade system with the World Trade Organisation at its core.
Now, Xi’s global audience is waiting for China to back up its talk with action. Foreign companies and private Chinese companies alike want greater market access, reciprocity in investment and a level playing field when competing against Chinese state-owned enterprises.
