China a major driving force for globalization: economist

China has grown as an important driving force for the development of globalization, as the US is stepping back, according to a Nobel Prize winner.

In a recent interview with the state-owned China News Service in Berlin, Germany, Michael Spence, the Nobel Prize winning economist, said that the international community is pinning more hope on China to solve the rising global problems as the Chinese efforts in "increasing foreign investment and promoting infrastructure connectivity" have helped the world's impoverished countries develop on a right course.

Spence felt shocked at the great achievements China has made in promoting globalization in recent years, as it could be inconceivable two decades ago when China was not a great power that could contribute to the development of globalization.

"China's solutions to the global problems are leading the world to the right direction," said Spence.

He said that the large market, relatively higher level of openness and the expansion of the middle-income class had granted China an opportunity to help other countries develop, along with its infrastructure connectivity projects that work well in promoting communication between countries.

The economist felt confident about China's role on the international stage, which he described as an "official endorser" for globalization, especially when the Communist Party of China (CPC) is set to hold its 19th national congress in fall when comprehensive reforms will be carried out.


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