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Apec must lead the march for inclusive and sustainable growth

Zhang Jun says while Asia and the Pacific on the whole has benefited greatly from globalisation, the gains have not reached everyone. As a model of effective cooperation, Apec is best placed to address this lopsided development

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Zhang Jun says while Asia and the Pacific on the whole has benefited greatly from globalisation, the gains have not reached everyone. As a model of effective cooperation, Apec is best placed to address this lopsided development
Zhang Jun
As the pioneers and champions of regional economic cooperation, Apec member economies are both responsible for and capable of exploring better ways to promote inclusive growth. Illustration: Craig Stephens
As the pioneers and champions of regional economic cooperation, Apec member economies are both responsible for and capable of exploring better ways to promote inclusive growth. Illustration: Craig Stephens
When Asia-Pacific leaders meet at the 25th Apec summit in Da Nang, Vietnam, on Friday and Saturday, enhancing the inclusiveness of development will top the agenda.
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At the Apec CEO Summit in Lima, Peru, last November, President Xi Jinping underlined the duality of economic globalisation: on the one hand, it is an engine for global economic growth, but on the other, it creates new problems and challenges. Xi called on all member economies of the Asia-Pacific Economic Cooperation forum to address injustices and inequities, and work for a more invigorated, inclusive and sustainable economic globalisation, to boost people’s well-being.
While addressing the World Economic Forum earlier this year in Davos, Xi said it was not justifiable to write off economic globalisation just because it has engendered some new problems. He called on economies to leverage the advantages of globalisation and cushion its negative impact, to ensure benefits for all.

Globalisation as we know it is at a crossroads. Xi’s in-depth thinking on the patterns of globalisation point to a direction for the ­future.

A poster featuring President Xi Jinping is displayed along a street in Beijing. Xi’s in-depth thinking on the patterns of globalisation point to a direction for the ­future. Photo: AP
A poster featuring President Xi Jinping is displayed along a street in Beijing. Xi’s in-depth thinking on the patterns of globalisation point to a direction for the ­future. Photo: AP

Why is Xi Jinping changing the formula of China’s economic wonder for the past 30 years?

The Asia-Pacific today represents the most dynamic region of the global economy. Founded at the time when economic globalisation was thriving, Apec has become the most important economic cooperation mechanism in the region.

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