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Shanghai Daily News Digest

China International Import Expo Manifests the Zeitgeist of the Times, Inclusiveness, and Sustainability   2018-11-11

 

 

Zhang Qun, Institute of International Studies, Shanghai Academy of Social Sciences   The first China International Import Expo (abbreviated as CIIE) will be held in Shanghai from November 5-10, 2018. CIIE has been the first national-level exposition with the theme of import across the world. Themed around a new era and a shared future, and carrying out the principles of joint consultation, co-construction, and sharing of the “One Belt, One Road” initiative, it is an embodiment of the zeitgeist of the times, inclusiveness and sustainability.   CIIE reflects the zeitgeist of the times in three aspects, namely, the transformation of international economic order, the process of globalization, and the process of China's economic development. Firstly, with the overall rise of the developing countries, the emerging economies have had more say in global governance, and the international economic order is now undergoing a major transition. Secondly, with the slowdown of trade growth on a global scale, the anti-free trade trend has been gaining momentum, trade protectionism continues to escalate, and globalization has landed in a predicament. Thirdly, after 40 years of economic reform, China's economic development is in a transition from a pursuit of high-speed growth to that of high-quality development. With increasingly higher material and cultural needs, the Chinese people’s goal has shifted from a moderately prosperous life to a better life. At such a significant historical turning point, China has demonstrated its steadfast support for trade liberalization and economic globalization. As a gesture of China to further open up its market to the world, CIIE will be greatly instrumental in promoting the transformation of international economic order, globalization and domestic consumption upgrade. Inclusiveness is mainly reflected in four aspects: target orientation, service target, form, and coverage. In terms of target orientation, CIIE is committed to building a comprehensive service platform to open up new channels for trade and investment cooperation among the world's economies and accommodate the sustainable development of the world economy. As for the service target, the participants of CIIE will involve the three sectors of government, industry, and academia. CIIE will not impose exclusionary clauses on the enterprises and economies that are interested in attending CIIE. Speaking of form, CIIE is composed of enterprise trade shows, national exhibitions, and economic and trade forums. It not only provides a trading platform for microeconomic entities such as enterprise manufacturers, but also provides a platform for the display of macroeconomic entities such as countries and regions. CIIE also provides a platform for exchanges on important issues of world economic development. As far as coverage is concerned, the corporate trade shows cover a wide range of food and agricultural products, apparel, consumer goods, consumer electronics, home appliances, medical devices, medical insurance, automotive, smart & high-end equipment and trade services. The national exhibitions involve such aspects as trade of goods and services, industrial development conditions, tourism investment, and specialties of various countries. Economic and trade forums have extensive discussions on trade and opening-up, trade and innovation, trade and investment and so on. Sustainability is mainly shown in three aspects: service tenet, mechanism construction, and spillover effect. CIIE aims to provide a new boost to global trade, and build sustainable trading partnerships by offering international public goods, and pooling global forces to further opening-up and achieve a win-win situation. In terms of mechanism construction, CIIE is both an international public product that China has voluntarily provided for the world economic system and a supply mechanism for the continuous supply of international public goods. It has received positive responses from the sectors of government, industry, and academia of various economies and strong support from international organizations. As the world's second largest economy, China has the strength and resources to sustain the continuous development of this public platform, and to contribute its share to the development of international trade. From the perspective of effect, China has created new business opportunities for foreign companies by holding CIIE, providing export markets for trade partners and giving new impetus to the development of world economy. Meanwhile, the micro-level trade and investment cooperation exerts significant influences on market and institutional environment, accommodates liberalization and facilitation of trade and investment, and accelerates industrial and consumption upgrades in developing countries. The above-mentioned spillover effects will in turn further enhance the function and sustainability of CIIE. (The author is an assistant researcher at the Institute of International Studies, Shanghai Academy of Social Sciences)  

 


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