Fallacies of Western media won’t reduce int’l community’s confidence in Chinese economy

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By Zhong Sheng, People’s Daily

The Baihetan hydropower station, the world’s second-largest in terms of total installed capacity, was recently put into full operation, which marked the completion of the world’s largest clean energy corridor on China’s Yangtze River.

During the three-day New Year holiday, hustle-and-bustle returned to China’s consumption market, and multiple provinces sent business delegations overseas to seek new opportunities.

These all indicate enhanced confidence of enterprises in the Chinese market and accelerated steps of work resumption in China, which comes from the optimization of country’s COVID-19 response measures.

The international community is now more optimistic about China’s economic prospects, believing that China’s optimized COVID-19 response will inject more impetus into the country’s economic recovery and growth.

Morgan Stanley, Goldman Sachs and JPMorgan Chase & Co. all lifted their forecast on China’s economic growth in 2023.

According to a survey by the Bank of America, three quarters of its portfolio managers hold that China will see higher growth after it optimized its COVID-19 response.

WTO Director-General Ngozi Okonjo-Iweala said China’s optimization of COVID-19 response “will help remove one set of uncertainties” in a world reeling from the impacts of the pandemic.

Secretary-General of the Organization for Economic Cooperation and Development(OECD) Mathias Cormann noted that the optimization will inject more impetus into the recovery of China and the world.

However, some western media outlets have shut their eyes to the positive changes of the Chinese economy and the authoritative judgement by international economic organizations and commercial institutions, groundlessly talking down the Chinese economy.

When China was following a dynamic zero-COVID approach, these media outlets fanned up the negative impacts from China’s COVID-19 response on the world economy. However, after China optimized its response measures, they still held similar views. Such self-contradiction exposed their deep-rooted political prejudices against China, and their narrow-mindedness that they never want to see a prospering China.

The most important thing in the major test of the pandemic unseen in a century is to secure people’s lives and safety while ensuring economy and livelihood.

Since the onset of the virus, China has taken a proactive approach and fully prepared itself with flexible measures. It has effectively responded to five global COVID waves and over 100 resurgences at home, which safeguarded the health of the Chinese people and its economic and social development.

The average annual economic growth of China over the past three yearswas higher than the world average.

China’s active practice made important contributions to ensuring smooth global industrial and supply chains, and to promoting the development of the world economy.

Facts prove that China has blazed a trail that well coordinates COVID-19 response and economic development, which puts people’s lives and health under the fullest protection and maximumly reduces the impacts from the virus on economic and social development.

The recent Central Economic Work Conference stressed better coordinating epidemic prevention and control with economic and social development. China optimized its COVID-19 response based on a comprehensive assessment of the mutation of the virus, the COVID situation, and ongoing response efforts. It will help make its response more science-based, targeted and effective. It will also restore normalcy to people’s work and life, meet regular medical and health needs, and minimize the impact from COVID-19 on economic and social undertakings.

Besides, relevant departments formulated and released the provisional measures on cross-border travel, which took effect on January 8. This will better facilitate the safe and orderly cross-border travel of Chinese and foreign nationals and international exchange and cooperation, and prove to be a boon for the global economy.

How to enhance the coordination of macro-economic policies and jointly promote global recovery has always been an urgent task for the international community since COVID-19 began. However, a few major countries that have huge influence on the world economy are acting totally irresponsibly. They have transferred the pressure of inflation to the rest of the world by constantly raising interest rates, pushed for decoupling and disruption of industrial and supply chains, and launched extreme sanctions, which puts the world economy at higher risks.

Though some western media outlets are hyping the ridiculous rhetoric talking down the Chinese economy, neglecting the positive factors brought about by China’s optimized COVID-19 response to the Chinese and world economy, they will not diminish the confidence of the international community in the development of the Chinese economy, or stop the trend of relevant parties enhancing mutually beneficial cooperation with China.

Today’s China is a country brimming with vigor and vitality. The Chinese economy enjoys strong resilience, tremendous potential and great vitality. The fundamentals sustaining its long-term growth have remained strong.

The Chinese people is confident in defeating COVID-19. They will strive for new progress in economic and social development, and continue contributing positive energy to the robust, sustainable, balanced and inclusive growth of the world economy.

(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy and international affairs.)