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China's development brings opportunities rather than challenges to Australia: spokesman

China

China's development brings opportunities rather than challenges to Australia: spokesman
China

China

China's development brings opportunities rather than challenges to Australia: spokesman

2024-08-02 16:43 Last Updated At:21:17

China's development will bring more opportunities rather than challenges to Australia, Foreign Ministry spokesman Lin Jian said on Friday at a press conference in Beijing.

Lin was responding to a report on the economic impact of trade with China on Australian families which was commissioned by the Australia China Business Council (ACBC) and recently released by the Bankwest Curtin Economics Center (BCEC), an independent economic and social research organization located within the Curtin Business School at Australia's Curtin University.

According to the report, Australia's trade with China increased disposable income by an average of 2,600 Australian dollars (about 1,690 U.S. dollars) for each Australian family in the fiscal year 2022-2023, which "equates to 4.6 percent of disposable income per capita."

Australia's trade with China created up to 595,600 jobs and put downward pressure on the living cost, which is estimated to drop by 4.2 percent, said the report.

The report found that the greater proportion of Australia's imports from China in its total imports, the more the living cost will be reduced.

Lin said that Australia's cooperation with China has brought tangible benefits to its people, and that China's development will bring more opportunities for Australia.

"We have noticed the report released by the Australian institution. The facts and data listed in the report reflected the huge benefits Australia's trade with China has brought to the Australian people, highlighting the mutually beneficial and win-win nature of the China-Australia economic and trade relations. It has once again shown that China's development is an opportunity rather than a challenge for Australia. China and Australia are natural partners for cooperation as their economies are highly complementary. China is now further deepening reforms comprehensively to advance Chinese modernization which will bring more opportunities for China-Australia cooperation," said Lin.

"Cooperation between China and Australia enjoys broad prospect. By strengthening bilateral cooperation, the two countries can transform their complementary advantages into powerful driving forces for common development. It will also contribute to maintaining stable and unimpeded global industrial and supply chains and inject more positive energy into the sustained economic recovery of the two countries, the region and the world at large. Taking the 10th anniversary of the China-Australia comprehensive strategic partnership as a new starting point, China is ready to work with Australia to implement the important consensus reached by the two heads of state and the outcomes of Chinese Premier Li Qiang's visit to Australia in June this year. We will continue to foster new growth drives of China-Australia cooperation and make the 'pie' of win-win cooperation bigger so as to bring more benefits to the two peoples," Lin said.

China's development brings opportunities rather than challenges to Australia: spokesman

China's development brings opportunities rather than challenges to Australia: spokesman

An official with the World Economic Forum (WEF) has stressed the importance of establishing an adaptable mechanism for dialogue and cooperation that allows the global economy to fully benefit from the development potential of new technologies while managing the associated risks.

Mirek Dusek, one of WEF's managing directors, was speaking on the sidelines of the 2025 WEF Annual Meeting, which commenced in Davos, Switzerland on Monday.

The five-day event has gathered around 3,000 participants from various regions and industries around the world under the theme "Collaboration for the Intelligent Age," highlighting the need for greater collaboration against a backdrop of rapid technological advancements and global divisions.

In an interview with the China Global Television Network (CGTN) on Tuesday, Dusek said WEF is monitoring "two big forces" they believe are changing the world economy.

"On one hand, we are living through quite a unique time in terms of technological advancement and innovation. But on the other hand, of course, we are also tracking forces of fragmentation. We are seeing a more competitive geopolitical landscape, shifting value chains and supply chains, and of course, also social polarization in certain societies around the world," he said.

With the current uncertainties in the world, Dusek stressed the importance of building a suitable platform for dialogue, and ensuring that such a mechanisms is adaptable to respond to the various challenges.

"Given the trends that we are seeing in the global economy, in international relations, that function of bridging and dialogue could not be more important. It's very important that we have mechanisms where we can have dialogue and cooperation, and of course,  we also need to be on the front foot of thinking, 'Okay, how do we make sure that the collaborative mechanisms are fit for the 21st century?'" he said, adding that this will be one of the focuses of the current Davos meeting.

 Dusek also emphasized China's vital role in promoting global economic growth and technological development, describing the country as a "key actor" in helping the world transition to a new era of tech-driven development.

"Everyone understands that we need to be on our front foot, really thinking creatively around how do we relaunch growth that is inclusive, sustainable. But how do we relaunch growth in this new situation for the world economy? And China plays a very important role in that endeavor, on development, on trade, of course, as well. On technology, I mentioned the theme, 'The Intelligent Age'. What we are trying to communicate with that is that there is a huge opportunity around some of these technologies. What is quite special is that it's not only one technology, but we are seeing, at this moment, whole sets of technologies that are going to market and exponentially changing industry and economy. If we have this huge opportunity around these technologies, how do we design [not only] our dialogue mechanisms, but also our collaborative mechanisms to be able to harness these technologies for the benefit of the world economy while taking care of the risks," he said.

WEF official calls for mechanisms to foster dialogue in new tech era, boost world economy

WEF official calls for mechanisms to foster dialogue in new tech era, boost world economy

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