BEIJING, Feb. 28, 2025 /PRNewswire/ -- A report from People's Daily:
As of late January 2025, Peru's Chancay Port had handled over 15,000 containers and 112,000 tons of bulk cargo, cementing its role as a pivotal hub for exports of blueberries, palm oil, and corn – products now defining Peru ' s trade identity.
Born from the Belt and Road Initiative (BRI), the port is reconfiguring Peru ' s economic footprint, underscoring a development model that contrasts sharply with historical precedents.
While past powers pursued modernization through expansionist strategies, often leaving developing nations burdened, China ' s approach emphasizes coexistence over zero-sum rivalry. By prioritizing shared growth and leveraging its own modernization to propel global progress, China has earned recognition as an "enabler."
Australian scholar Warwick Powell observed that just as China seeks to achieve more even development domestically, the effects of its model of global integration via trade, capital exports, transfer and knowhow is also tackling decades of uneven global development.
China has solidified its role as an indispensable engine of the global economy, with its 2024 GDP growth of 5% propelling its economic output past 130 trillion yuan ($17.88 trillion). Accounting for over 30% of worldwide growth last year, the country continues to anchor international markets even as it navigates domestic structural reforms.
This sustained momentum, economists note, reflects China's commitment to building an open world economy while modernizing its development paradigm.
Defying global trade headwinds, China recorded 486 billion R&D expenditure, maintaining its position as the world ' s second-largest innovation spender after the U.S.
The true paradigm shift emerges in green technology corridors. Chinese wind turbine shipments to emerging markets like Vietnam and Brazil exploded by 72% last year, while solar panel exports hit 200 billion threshold.
China ' s global economic influence is increasingly defined by its dual focus on domestic modernization and transnational collaboration. As the IMF noted in its 2024 World Economic Outlook, China ' s institutional innovations are creating "new public goods for global trade architecture" – a dynamic exemplified by recent industrial developments.
Tesla accelerated its energy storage ambitions this month with the operational launch of its Shanghai Gigafactory, the world ' s largest battery production facility. Across the manufacturing landscape, BMW ' s Shenyang Plant Lydia commenced full-scale production of its next-generation electric vehicles, while Siemens Healthineers broke ground on a $300 million R&D hub in Shenzhen ' s innovation corridor. Meanwhile, Lexus finalized plans for its first wholly owned Shanghai subsidiary, signaling deepening commitment to China ' s premium automotive market.
The outward ripple effects are equally measurable. Ministry of Commerce data reveals a 10.5% YoY surge in China ' s non-financial ODI to $143.85 billion in 2024, marking the third consecutive year of double-digit growth.
Chinese home appliance manufacturer Haier has set up a new air-conditioner plant in Thailand, with 85 percent of its production intended for export. Meanwhile, the battery plant of China's leading battery maker Contemporary Amperex Technology Co., Ltd. (CATL) in Hungary is fostering a local industrial cluster, reshaping Europe's new energy landscape.
Additionally, many Chinese companies are training local technical workers in Africa and incubating local enterprises within their industrial parks in Latin America, catalyzing industrialization and modernization in these regions with China's industrial strength.
China's enabling role in fostering global development is underscored by its dedication to addressing contemporary challenges through scientific and technological innovation.
Today, as economic globalization is encountering headwinds and the world stands at a new crossroads, it is more crucial than ever for countries to clear away confusion and adopt long-term, forward-looking development strategies.
China's visions are increasingly enabling other countries in their development. China always champions diverse development paths, breaking away from a one-size-fits-all approach. African scholars said that the most important experience that African countries have learned from China is the importance of choosing development models in line with national conditions rather than blindly following the approaches of others.
China upholds a people-centered approach, proposing that on the path to modernization, no one, and no country, should be left behind , which has been hailed not just as an update of economic logic, but an elevation of human civilization. As China continues to pursue win-win cooperation and shared development, more and more people have come to understand that in today's world, development is not an exclusive competition but mutual progress.
China has been actively promoting the exchange of governance experiences, sharing both macro theories and practical experience with the world, such as "coordinating the relationship between an efficient market and an effective government," "helping poor people build the confidence and capacity to help themselves," and "showing people how to fish instead of just giving them fish." These ideas provide valuable insights for countries seeking to overcome development challenges.
By taking an open and inclusive approach to cooperation, China is creating global opportunities for common development as well as confidence and hope. As an "enabler," China will continue to instill strong impetus in the global modernization.