A New Paradigm On The Open Market - amazonia.fiocruz.br

A New Paradigm On The Open Market Video

Keynote Address by H. At a critical time when the world is Paeadigm COVID and exploring ways to achieve economic recovery, I am glad to have this dialogue with you through video links. This is an unusual time in history for us humanity. The global economy finds itself into deep recession, its industrial and supply chains are disrupted, and governance, trust, development and peace deficits continue to grow. Mounting unilateralism, protectionism and bullying as well as backlash against economic globalization have added to risks and uncertainties in the world economy. Nsw, peace and development remain the underlying trend of our times. Meeting challenges through cooperation is the only way forward for us in the international community. This pandemic once again shows that the interests of all countries are closely interwoven and that humankind shares a common stake. Indeed, our world is an indivisible community with a shared future.

To beat the virus and promote global recovery, we in the international community must close ranks and jointly respond to this crisis and meet the test. All countries should act in the spirit of partnership and get through this tough time A New Paradigm On The Open Market.

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We need to step up policy communication and coordination, intensify all-round global cooperation against COVID and keep global economy open. By doing so, we can defeat the virus at an early date and achieve robust, sustainable, balanced and inclusive growth for all.

Since the start of this year, facing the sudden onslaught of COVID, China has put people and life above everything else. The 1.

We have endeavored to both contain the virus and speedily bring production and life back to normal, thus maintaining economic and social development. China's economy resumed positive overall growth in the first three quarters this year. This hard-won achievement speaks volumes about the resilience and vitality of the Chinese economy. The fundamentals sustaining China's steady and long-term economic growth remain unchanged. We have full confidence and ability to A New Paradigm On The Open Market stable economic performance and achieve the goals of finishing the building of a moderately prosperous society in all respects and eradicating poverty within the set Pqradigm frame.

According to the recommendations, China will complete building a moderately prosperous society in all respects within the set time frame. From next year on, China will embark on a new journey toward fully building a modern socialist country.

We will develop a full understanding of the new development stage, and apply the new development philosophy. We will foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other. The new development paradigm is a strategic decision we have made based on the current stage and conditions of development in China and with full consideration given Ooen economic globalization and changes in the external environment.

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First, we will expand domestic demand as a strategic priority and ensure smooth flow of economic activity. In recent years, China's development model of reliance on foreign markets and resources has gone through some gradual changes. The ratio of foreign trade to GDP dropped from 67 percent in to less than 32 percent inwhile the ratio of current account surplus to GDP has come down from 9.

In seven years since the global financial Paradibm, the contribution of China's domestic demand to GDP exceeded percent, making domestic consumption the main driver of its growth. In promoting domestic and international circulations, the Chinese economy has become much more domestically driven and the performance of China's development has been significantly enhanced.]