Argentine expert sees global dimension of China's five-year plan

GMT 04:28 2016 Sunday ,08 May

Arab Today, arab today Argentine expert sees global dimension of China's five-year plan

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Buenos Aires - XINHUA

China's 13th Five-Year Plan (2016-2020) will have an unprecedented global impact, particularly in the fields of science and technology and environmental protection, a leading Argentine economist said.

Gustavo Girado, head of the Buenos Aires-based Asia-Argentina consulting group, spoke with Xinhua on Friday about the global significance of China's roadmap for socio-economic development over the next five years.

As the world's No. 2 economy, China's actions necessarily have an impact on the rest of the world, he said. But it is the Asian giant's greater opening up and connectivity with other emerging markets, as well as its currency joining the global reserve currency basket, that makes China's development policies particularly significant for other nations.

As he sees it, China's active role in global forums attests to its larger role in global affairs.

"It is evident in China's presence in venues such as the Group of 20, and in the strengthening of its comprehensive partnerships, such as the one it has with Argentina," said Girado.

With China playing a leading role in global affairs, the new five-year plan, which was approved by Chinese lawmakers on March 16, "is going to have a strong impact" both domestically and globally, he said.

At the national level, the plan aims to tackle the "need to have growth imply economic development across the board and to reduce the income gap," said Girado.

At the international level, the "Made in China 2025" strategy, a key part of the five-year plan on upgrading the country's manufacture industry, will be tremendously important as it involves measures to promote innovation, technology and incorporating Chinese know-how into each product it exports, added Girado.

Meanwhile, at a time of weak global growth, China is doing the right thing to tap into the domestic market, said the economist.

He also noted that protecting the environment is another goal of the 2016-2020 plan. Among the objectives: reducing water consumption by 23 percent per 10,000 yuan of gross domestic product, cutting energy consumption by 15 percent per unit of GDP, and lowering carbon dioxide emissions by 18 percent.

According to Girado, the plan's inclusion of environmental protection is of tremendous significance.

China started a few years ago to put huge resources to developing clean energy and the country is now a global pioneer in this regard, said Girado, adding that the Chinese government has made promoting green energy one of the goals of its 13th Five-Year Plan.

The policy to promote renewable energy, he added, makes clear that China is committed to pursuing environmentally balanced development toward the future.

In the lead up to 2020, said Girado, China's opening up to the world will be further reflected in its Belt and Road Initiative to enhance regional connectivity and prosperity, and to promote global growth via production capacity cooperation.

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