Interview: China's entry into the WTO will benefit itself and global economic growth-Interview with Li Changyong, Director of the IMF's Asia Pacific Department

　　Xinhua News Agency, Washington, December 6th: China’s accession to the WTO will benefit itself and global economic growth-Interview with Li Changyong, Director of the IMF’s Asia-Pacific Department

　　Xinhua News Agency reporter Xiong Maoling Gao Pan Hu Yousong

　　In a video interview with Xinhua News Agency reporters, Li Changyong, director of the International Monetary Fund's (IMF) Asia Pacific Department, said that China's accession to the WTO not only benefits itself, but also contributes to global economic growth.

　　Li Changyong said that China’s accession to the World Trade Organization 20 years ago was a blessing. China’s accession to the WTO and opening up markets to the world allowed him to see the “great changes” in China’s development.

　　Li Changyong believes that some Asian economies such as China and South Korea are examples of trade-driven economic growth, and their development has also benefited many consumers in developed countries.

Many low-income countries in Latin America, Africa, and Asia can follow the example of economies such as China and promote economic development through trade, establish their own industries, and finally develop into middle- and high-income countries.

　　Li Changyong pointed out that free trade as a whole will definitely promote growth and improve social welfare, but there are also some people who are negatively affected by trade, and policy makers have not invested too much effort to compensate and protect them. This is because some people oppose globalization and The reason for the sound of free trade.

He believes that the importance of trade must be promoted and publicized, showing that trade is still an important driving force for growth.

　　IMF staff recently completed an annual routine assessment of China's economic performance and macro policies and issued a statement stating that China's economic recovery after the epidemic is progressing smoothly. In order to achieve balanced, inclusive, and green growth, macroeconomic policies need to play a supporting role.

The statement also pointed out that China plays an important role in global actions to address climate change.

　　Li Changyong told reporters that to ensure high-quality growth, China should focus on two key points: green growth and economic rebalancing.

He believes that China will strive to achieve a carbon peak by 2030 and achieve carbon neutrality by 2060 is a great goal.

He also welcomed the Glasgow Joint Declaration on Strengthening Climate Action issued by China and the United States during the United Nations Climate Change Conference in Glasgow.

　　Li Changyong said that China has carried out a considerable degree of fiscal consolidation in the past year.

"We think that China has many tools and public (policy) space, but how China uses these tools to achieve two-handed grasp, this will be very important."