Explainer: What China's high-standard opening up brings to the world
China DailyA containership is berthed at Tianjin Port's IoT-supported terminal. CONTRIBUTION TO WORLD ECONOMY As the world's second-largest economy with over 1.4 billion people, China, through wider opening up, has embraced others with an ultra-large consumer market and consistent resolve to boost common development for all, thus injecting confidence and certainty into the global economy. China's recovery from the COVID-19 pandemic "will make a welcome contribution to global growth," said The Economist in early February, given the Chinese economy helped stabilize the world's economies during the Asian financial crisis in 1997 and the Global Financial Crisis in 2008. "If you look at the China's development model, we call it the proceeds of development that China is sharing with the rest of the world," said Cavince Adhere, a Kenya-based international relations scholar, noting that program like the BRI massively transforms developing places like Africa. Today, the CIIE has become a showcase of China's new development paradigm, a platform for high-standard opening-up, and a public good for the whole world," Xi said at the opening ceremony of the fifth CIIE.