The Xinhua News Agency has released the third part of a series of reviews on the true narrative of China’s production capacity from a global perspective. The article, titled “Win-win is the direction of development,” sheds light on the recent hype surrounding the “China overcapacity theory” and “China’s production capacity impact theory” by some countries in the United States and the West.
According to the Xinhua News Agency reporter Gao Wencheng, these theories aim to distort China’s economic and trade relations with the world, interfere with global economic and trade operations, and suppress and contain China’s development. The article emphasizes that the struggle between developed countries and rising developing countries reflects a contest for fair development rights under major changes in the world system.
The article highlights the historical industrial division system that provided excess returns to developed countries while relegating developing countries to resource labor providers and market sales places. As China moves towards high-tech industries and shifts towards the global industrial supply chains, the US and the West fear the challenge to their central monopoly status and profits.
The Xinhua News Agency calls for a shift in perspective towards global economic cooperation, resource flow, and market integration for the benefit of all countries. It points out that promoting the free flow of resources, market integration, and extensive sharing of results is essential for the world economy to move forward.
The article discusses China’s efforts in unblocking paths for production capacity cooperation through initiatives like the “Belt and Road,” benefiting more countries through development dividends. It also highlights examples of Chinese cooperation in sectors like electric vehicles and agriculture in countries like Southeast Asia and Tajikistan.
The Xinhua News Agency stresses the importance of innovation-driven development, technological cooperation, and industrial upgrading for sustainable economic growth. It mentions examples of foreign companies investing in China for research and development, emphasizing the country’s role as a strategic location and a source of innovation.
In conclusion, the article reiterates that win-win cooperation is the direction of development and that China’s integration into the world economic development process is unstoppable. It emphasizes that noise and manipulation cannot hinder mutually beneficial economic and trade cooperation between China and the world or reverse the trend of global industrial structure adjustment.