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IIA政策报告
[Policy Report No. 173] Zheng Yongnian: How can opening-up continue to lead and shape the future of China's economy
Authored on：2022-09-11
Keywords
Globalization
International Competition
Guangdong-Hong Kong-Macao Greater Bay Area
Abstract
Today, China is undergoing profound changes unseen in a century. The international situation is changing rapidly from globalization since the reform and opening up to anti-globalization, and the main force of anti-globalization is the West, which is also the main force promoting globalization in the past. In the past, China's reform and opening-up and globalization were interdependent and mutually reinforcing forces moving in the same direction. That is why, in just 40 years, China has completed the development of major Western countries in about a century and a half. But that no longer exists today. The West is not only fighting against globalization, but also making great efforts to decouple China, in order to contain China's continued rise and even halt China's modernization.
The western anti-globalization has a profound impact on the Chinese economy which is deeply embedded in the world economy. In response to Western pressure, Chinese society has also seen nationalist and populist sentiments rise, with tit-for-tat retaliation against the West. Some people have begun to doubt China's policy of opening up and misunderstand the policy of "double domestic and international cycle, focusing on the big domestic cycle". They believe that the external cycle is not important and the country should shift to the "internal cycle" as soon as possible. Some have even begun to make an academic case for the "closed-door policy" since the Ming and Qing Dynasties.
It is easy to understand that such and such sentiments are China's reaction to the West. However, if China reacts too aggressively to changes in the external world and irrational emotions run too high, it will inevitably accelerate the process of decoupling between China and the West. If history is any guide, China is likely to close the door again once "isolation" is seen as the right ideology. There is no inevitability in history. If we believe that opening up is inevitable in history, it will be proved wrong by subsequent history.
We believe that China's reform process in the past decades has been shaped, made and led by opening-up policy. Today, when we face great changes in the international environment, there is no reason to change our belief in openness. On the contrary, at a time when the West is fighting against globalization, we should strengthen our belief in openness, let openness continue to promote our country's economic development, let it continue to shape our country's economic future, and let it led us to the center of the world stage.
Research Questions
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How does globalization affect China
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The main performance of the international competitive environment changes
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China's approach in the context of global competition and the leading role with Guangdong-Hong Kong-Macao Greater Bay Area
