APEC may become main platform for dialogue

Xi Jinping
Xi Jinping

During the World Economic Forum in Davos Chinese leader Xi Jinping expressed support for globalization and open economy, urging to stop trade wars: "We must seek development of trade and investments, say no to protectionism. There will be no winners in trade war." The head of the RAS IMEMO sector of common problems of the Asia-Pacific Region, Alexander Fedorovsky, believes that "globalization is an objective process", and we must adapt to it.

"Many experts, including in our country, believed that globalization is just Washington's project, which must be resisted.China has finally voiced the reality, saying that globalization is an objective process. Another problem is that adaption to this process is very difficult, it is a serious challenge for the economies of all countries. That's China's message, and it is ready to work in cooperation with other countries," the expert said. 

According to him, the world is on the verge of a new stage of globalization: "If you look at the results of previous stage, we will see that this is a problem faced not only by the US economy, but also by other countries. This is the formation of second national economy outside national borders. For example, Japan produces more products in overseas branches of Japanese companies than in Japan itself. This is a challenge faced by Japanese economy. That is one of the reasons for Brexit. This also applies to the US economy - globalization gave significant benefits to some sectors, but part of the economy is in a state of depression."

Alexander Fedorovsky believes that this is a chance for China, but it will be difficult capitalize on it, because China is experiencing severe economic difficulties in restructuring its own economy to new, innovative development track. 

"For now they should find a platform, maybe Asia-Pacific free trade zone. During the meeting in Peru China and other countries stressed that a lot of ideas of the Trans-Pacific Partnership can be used in this platform. It was China that proposed Asia-Pacific free trade zone. It should be mentioned that many perceived APEC as a platform for talks, but now it turned out that this organization that can be used to hold international negotiations. Free trade zone is created outside of Asia-Pacific Economic Cooperation. This simplifies dialogue, there is no close connection between participants of these negotiations, but certain agreements in the framework of this organization still can be achieved," he concluded.

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