Guest Post: The New Leader of the Free Trade World?

by | Nov 22, 2016 | Trade Working Blog

Remove

Guest post from Tony Nowell, CNZM, Member, ABAC New Zealand

free-thinking

At the APEC CEO Summit in Lima, Peru, this week we witnessed an excellent and wide ranging speech from President Xi Jinping of China. President Xi’s speech throughout emphasised the importance of open markets and free trade.

Starting with a reflection on consensus views of the current sluggish economy and anti-globalisation sentiments which present growing and multiple challenges to Asia Pacific growth, President Xi delivered a strong and balanced message about the dangers of fragmentation, that closed economies was the “wrong choice” and that globalisation was in keeping “with the basic law of economics”.

The President emphasised the need for “aligning and connecting” to unleash the potential of Asia Pacific in physical, institutional and people terms. He referenced China’s ‘Belt and Road’ initiative as an important component of connecting and facilitating new regional and global value chains. He also emphasised the need to boost reform and innovation, promote rural co-operation, deepen and expand co-operation while rejecting undercutting and exclusive behaviours, to build a sound and stable platform for development. He stressed that this needs concrete action from each APEC member.

President Xi closed with a commentary on the trajectory of the Chinese economy, with emphasis on encouraging transformation and building a prosperous society based on supply side structural reform, deepening reform of the economy and government institutions, and the creation of an international standard enabling environment that will present a level playing field for local and foreign investors, and encourage more Chinese companies to go-global through greater access to foreign direct investment and free trade zones.

We heard a strong message of the need for equitable, inclusive development and the great opportunities that China’s development will offer to the world through strong support for multi-lateral trade.

Have we also heard a strong statement from the new leader of the free trade world, driving straight and hard into an obvious and glaring gap that has rapidly evolved?

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

 

Remove

 

Latest News

NZIBF 2022 Chair Report

ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations.  At the outset I would like to thank Members for...

NZ BUSINESS LEADERS AT APEC 2022

New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...

WHAT’S IN A NAME?

The now widespread use of the term “Indo Pacific” to describe the region to which New Zealand belongs brings a risk of geographical confusion. When did the “Asia Pacific” become the Indo Pacific?   For thirty years or more New Zealand has sought to enhance...

NZ Herald: Turbulence in global trade

Amidst the political topsy turvy of recent weeks came the news that the Government has refreshed its Trade Recovery Strategy.  That’s good news because, for exporters and the global economy as a whole, it’s tough out there. The pandemic is by no means over, there...

Address to World Affairs Forum, 22 August 2022

ADDRESS TO THE WORLD AFFAIRS FORUM AUCKLAND, 22 AUGUST 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM TURBULENCE IN GLOBAL TRADE Thanks to Greg Thwaite for inviting me to speak to you this evening. It’s good to be back in the habit of meeting...

Trade and Climate Change: State of Play

TRADE AND CLIMATE CHANGE: STATE OF PLAY. A discussion paper prepared for the NZIBF by Adrian Macey, June 2022. Download here. Update: NZ-EU FTA The NZ-EU FTA has been finalised.  Article X.6 of the  trade and sustainable development chapter is on trade and...