3 months, 2 weeks ago

Stimulus of rise of the rest

JIN DING/CHINA DAILY Global development faces multiple crises. On the optimistic side, we have observed the rise of the Global South, or the "Rise of the Rest", as coined by the eminent development economist Alice Amsden. China alone accounts for over 30 percent of annual rate of global economic growth and has a share of 30 percent of global manufacturing, significantly impacting the world. The FOCAC Beijing Summit held in September 2024, the expanded BRICS mechanism and the Belt and Road Initiative are vivid examples of stimulating regional and global economies and building bridges across major regions. From developing countries' perspectives, China has emerged as the global green powerhouse by contributing game-changing amounts to renewable energy, sustainable mobility, electric vehicles and battery production, an exemplary achievement of green development in the historical record.

China Daily
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