As a member of the Group of 20 (G20) major economies, China has played a crucial role in safeguarding the common interests of developing countries and pushing for more open and equal global economic governance, Cambodian experts have said.
“The political status and economic scale have made China one of the most important actors in the G20,” Joseph Matthews, a senior professor at the BELTEI International University in Phnom Penh, told Xinhua in a recent interview.
He said China is vital to connecting developing and developed economies because it is a major link in the global supply chain and value chain.
“So, China’s economic development and its foreign economic relations are key to the sustainable development, prosperity and stability of the global economy,” Matthews said.
China, the professor said, is the major driving force for peace, stability, socioeconomic development, and poverty reduction in the region and the wider world.
“China has directly invested billions of U.S. dollars in infrastructure development in the G20 and in fellow developing countries under the Belt and Road Initiative (BRI) and the Global Development Initiative (GDI),” he said.
Apart from the BRI, he said China is accelerating its unconditional cooperation with the G20 in the transition toward a digital economy and society.
“More importantly, China is carrying out extensive international cooperation on technology and innovation and rising above high walls to share technological breakthroughs with the bloc so that entire humanity could reap benefits,” he added.
Kin Phea, director-general of the International Relations Institute of Cambodia, a think tank under the Royal Academy of Cambodia, said China has been promoting multilateralism and free trade in the global economy.
“China is a powerful shaper of a new global order, and a new global force of peace, stability, sustainable and inclusive development and prosperity,” he told Xinhua. “China has created global non-discriminatory and inclusive platform of cooperation regardless of region, politics, level and stage of development, culture and religion.”
Thong Mengdavid, a research supervisor at the Phnom Penh-based Asian Vision Institute, said China is considered as an alternative source of economic and reliable partners in regional and global trade.
“China has always followed international rules and laws, and upheld the principles of multilateralism,” he told Xinhua.
China opposes any kind of protectionism and unilateralism, but favors stronger partnerships, open and inclusive development with the G20 and the rest of the world, he said.
