Experts call for strengthening world openness

An equal, open, cooperative and shared world economic order is crucial to enhancing the resilience and security of global industrial and supply chains, and countries should uphold multilateralism and enhance openness to propel globalization and achieve win-win results, experts said on Sunday.

They also said that amid weakening globalization, China's unwavering commitment to expanding high-level opening-up will continue to benefit it and other countries, injecting significant positive energy into global economic recovery.

They made the remarks at a news conference on the World Openness Report 2023 and International Symposium on World Opening-up, which was part of the Hongqiao International Economic Forum during the ongoing sixth China International Import Expo in Shanghai.

The report was jointly released by the Chinese Academy of Social Sciences' Institute of World Economics and Politics and the Research Center for the Hong-qiao International Economic Forum.

According to the report, the downward trend in world openness since 2008 continued in 2022, with divergence intensifying among countries and regions.

The 2022 World Openness Index dropped to 0.7542, compared with 0.7975 recorded in 2008. Last year was also the seventh consecutive year that the index fell between 0.75 and 0.76, and it was the second-lowest level since 2008.

From 2008 to 2022, the openness index for advanced economies decreased from 0.8543 to 0.7882, while for emerging economies and developing countries, the corresponding figure increased by 4.8 percent from 0.6741 to 0.7067.

Zhang Yuyan, director of the CASS' Institute of World Economics and Politics, said, "Openness will indeed increase a country's risk factors, but trade and information exchange with the outside world will also strengthen its capacity, enhance its ability to maintain security, and help it obtain a more stable external environment through enhanced mutual trust and deepened bondsof interest with the outside world."

He added that the fundamental ways to strengthen world security are "to advocate the vision of common, comprehensive, cooperative and sustainable security", and "to balance openness and security in an improved manner".

Christopher Pissarides, Regius professor of economics at the London School of Economics, who won the 2010 Nobel Prize in Economic Sciences, said via video that openness helps a country expand its market, which in turn helps it improve efficiency and leverage competitive advantages to attain growth that is otherwise difficult to achieve.

Albert Muchanga, the African Union's commissioner for economic development, trade, tourism, industry and minerals, said that world openness needs to be enhanced.

Citing examples of China's achievements in opening-up, such as its remarkable progress in developing the pilot free trade zones, Zhou Xiaochuan, former governor of the People's Bank of China, the country's central bank, said via video that China has been injecting new growth impetus into world openness through its unwavering opening-up.

Gu Xueming, president of the Chinese Academy of International Trade and Economic Cooperation, said that in the process of opening-up and development, China and the world have been bringing mutual benefits to each other.

"China's interactions with the world in opening-up have become a good example of optimal opening-up, reflecting the country's goodwill to take the initiative to open up and promote the building of a community with a shared future for mankind," Gu said.

Joey Wat, CEO of Yum China, said that for six consecutive years, the company has been proud to provide catering services at the import expo, which is a "prestigious global event".

"With a 36-year history in China, ... we are excited about the significant opportunities China presents and remain confident in our ability to seize these growth opportunities," Wat said.

Anne-Laure Parrical de Chammard, a member of the executive board of Siemens Energy, said dialogue, exchanges and cooperation are more important than ever before, considering global challenges such as climate change.

"China is pursuing a 'Chinese path to modernization' through high-quality development and promoting the common development of the world via high-level opening-up, and we strongly endorse that," she said.