Exchanges important for common prosperity

Continued efforts should be made to further promote globalization while the world faces challenges such as geopolitical tensions, an economic slowdown and climate change, said experts and scholars attending the Shanghai Forum 2023 that kicked off on Friday.

Globalization should be fully inclusive, and inclusiveness does not mean condescending handouts, Cui Tiankai, former Chinese ambassador to the United States, said at the Friday forum.

True inclusiveness should be based on the equality and mutual respect of different countries and cultures, recognition of the world's diversity, and respect for the choices of countries based on their national conditions. The inclusive globalization should aim to achieve the common development of all countries in the world, he said.

Asia is still one of the major growth engines of the world economy. It has provided useful lessons that friendly cooperation is the general keynote and consultation on an equal footing is still the best option, added Cui.

Initiated in 2005, the Shanghai Forum has served as an important platform connecting businesses and academia from home and abroad, discussing major issues such as global governance, public security and technology innovation, among others.

Organized by Fudan Development Institute, the forum is jointly hosted by Fudan University and the Chey Institute for Advanced Studies. More than 10,000 experts from home and abroad have attended the forum since its inauguration thanks to Fudan University's disciplinary advantages.

This year's three-day forum starting from Friday carries the theme of "Towards a More Inclusive Globalization: Asia's New Responsibilities". It is the first offline edition since 2020.

Takehiko Nakao, chairman of the Mizuho Research and Technologies Institute, admitted in an interview with China Daily during the Friday forum that there are some problems incurred by globalization in past years, for example the increasingly wider gap between rich and poor. Issues concerning geopolitics, economic security and the pandemic have also raised concerns over multilateralism and globalization, and adjustments should be made in these areas, he said.

But he stressed that globalization is crucial, as economic development is only made possible by exchanges and trade. For example, Japan should further integrate with the global economy by expanding exchange in investment, human resources, technology and knowledge as part of the efforts to revitalize its economy.

Yu Miaojie, president of Liaoning University, said during the forum that globalization is very important to China's high-quality economic development. China should continue to carry on its allround opening-up by diversifying its export destinations, increasing imports, and deepening its foreign direct investment, he said.