Facing economic challenges requires hard look at reform
- By Li Daokui
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E-mail China.org.cn, December 8, 2012
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Chinese Kung Fu [By Jiao Hiayang/China.org.cn] |
Establishing China's new image of peaceful rise
Currently, China's international development has encountered resistance from certain Western countries including the US. However, these limits can be broken to a certain extent by the positive work of the new Chinese leadership.
Specifically, China should heighten its efforts in Europe. The European crisis is exactly the significant factor that induced the split of Europe from the United States. Countries including France and Germany are very dissatisfied with the US. While the US is refocusing its attention on Asia, China should counterbalance the US's position in the international community by means of strengthening cooperation with European countries.
China should also concentrate its efforts to handle major issues concerning its relationships with surrounding countries. For countries like Malaysia and Indonesia, China can use diplomacy and friendly cooperation to consolidate old relations and made new friends, thus limiting the reach of US efforts to shore up allies in the region.
Within the US itself, there are many contrasting opinions and views on how to evaluate and work with China. By increasing its efforts to cooperate with the US, both officially and unofficially, China can neutralize US perceptions of a "China threat" and garner more support for its initiatives.
China's 10-year trend: Slow at the beginning and fast later on
As stated in the above analysis, the Chinese economy will go through a difficult period in the first three to five years after its new leaders take office. However, the difficulties will become motivation for reform. Further reform of its economic system and positive work in the international community will lay a good foundation for China's future development. With resolute effort, China should expect relatively strong, sustainable economic development in the latter half of the coming ten years.
The author is a Chinese economist and the Director of the Center for China in the World Economy (CCWE) at the Tsinghua University School of Economics and Management and is the Mansfield Freeman Professor of Economics. He currently teaches courses on economic transition, corporate finance, international economics, and China's economy.
The article was first published in Chinese and translated by Li Bin.
Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.
