Chinese opening-up in tune with globalization

The world has just joined with China in celebrating 40 years of its opening-up. The preparations for, and the follow-up to the epoch-making announcements of the Third Plenary Session of the 11th Communist Party of China Central Committee, could be used as a case study for globalization. It was around four years later, in 1983, that globalization, as the expansion of global markets, became the hot topic and driver for the strategies of Western multinational corporations. But what became known as globalization could be seen as the resumed expansion of global trade that took place before 1914 that the two world wars interrupted. In this respect, China wisely assesses its own experience and assets in relation to the global market and is making a unique contribution to the global economy with its Belt and Road Initiative.