China's development benefits its neighboring countries

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Last updated at: (Beijing Time) Friday, September 26, 2003

China's development benefits its neighboring countries

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The report entitled "China Manufactured and China-Brand Products", published recently on the US Wall Street Journal, talked glibly about how Southeast Asian manufacturers are facing the fierce competition with China brand products. Some Western media, echoing this, took advantage of this opportunity to spread the view that "made in China" has constituted threats to the international market.

However, the mainstream opinion and industry insiders in the Southeast Asian region have their different judgments. The article entitled "Take-off on a Giant Dragon" carried recently in the Bangkok Post of Thailand said: China is rapidly becoming a strongest force in the Asian commercial and trading environment, the entire globe can feel the quantity of its economic heat. Meanwhile, on the topic regarding Southeast Asian region's economic recovery over the past few years, ASEAN (Association of Southeast Asian Nations) diplomats generally agree that China's stable and rapid economic development has boosted the economic rejuvenation of the Southeast Asian region.

At present, the trade volume of ASEAN and China amounts to around US$40 billion annually, the volume of exports from ASEAN to China is higher than that in any other regions around the world. The China-ASEAN free trade area soon to take shape will undoubtedly provide more convenience and space for the region's economic and trade activities. The project had started early this year and is under construction at an accelerated pace. The region, boasting a consumption population of 1.7 billion, is a vast market with a GDP total of US$2 trillion. After the completion of the free trade area, the region will enjoy a better development prospect. Just as the board chairman of the Chia Tai Group of Companies of Thailand has said: The more prosperous is China's economy, the more benefits ASEAN nations can get therefrom.

After its accession to the World Trade Organization (WTO), China has acted an important part in the world, the further opening of China's economy will bring more opportunities to its neighboring countries. The World Bank research report on the integration of East Asia expresses this view: the role China assumes in the region is incomparable, China is becoming an important market for the export products of other East Asian countries. Obviously, China's development, instead of constituting threats, has benefited and will continue to benefit its neighboring countries and even the global economy.

This article written by Liu Ge is published on page 3 of People's Daily, September 26.

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