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Sunday June 16, 2024

China’s new development paradigm to ensure global security, trade

By Afshan S. Khan
May 28, 2023

Islamabad: The Chinese model of inclusive and participatory economic growth is a path to modernisation featuring globalisation and multilateralism based on shared common security for every single country and the regions.

The BRI is connecting countries and civilisations for cultural harmony and trade. Pakistan is a major beneficiary of China's new development paradigm that has no aggressive plans against any country.

The CPEC was launched when no country was willing to invest in Pakistan’s infrastructure, Senator Mushahid Hussain Sayed said at a seminar on Saturday.

Senator Mushahid Hussain Sayed, the chairman of the Senate Defence Committee and founder chairman of the Pakistan-China Institute, said Pakistan’s bureaucratic hurdles and political instability are the main reasons for slow-paced progress on the CPEC initiatives. Pakistan shall act fast before it's too late. All stakeholders shall play their role in expediting the progress on CPEC.

The seminar titled “China for a new security, connectivity and trade paradigm” was organised by the Development Communications Network (Devcom-Pakistan) in collaboration with the China Study Centre, Comsats University Islamabad Campus. The Research and Media Fellow at Centre for China and Globalisation (Beijing) Zoon Ahmed Khan chaired the seminar.

The guest speakers included ambassador (r) Naghmana Hashmi, University of Peshawar pro-Vice Chancellor Dr Zahid Anwar, NUST China Study Centre Director Ms. Xian Yang, Bahria University Assistant Prof. Dr Hassan Daud But, Comsats University China Study Centre Director Dr. Tahir Mumtaz Awan, and Devcom-Pakistan Executive Director Munir Ahmed.

Zoon Ahmed Khan said China’s development is human centric that has transformed the Chinese society to become very productive. Now the GDP growth is exemplary with no person below the poverty line. Every village in China has its own solutions to the problems. The state has provided every possible opportunity to its people to go prosperous and promote itself to the next level. Small and micro enterprises changed the lives of people while China's peaceful economic progress has provided ample opportunities to every nation to freely trade. Young people have worked hard to change the face of China.

Ambassador (r) Naghmana Hashmi said: The intensification of Sino-American competition currently forms the most important instance of great-power competition which has the potential of becoming a major conflict engulfing the entire world. It has added to the uncertainty, instability and chaos in the already worrying and unpredictable flux in the world order prevalent these days.

Devcom-Pakistan Executive Director Munir Ahmed said: China has numerous development models that can help the developing countries.

Moreover, China is also out there to finance projects in every sector on a win-win model but the partners have to be more proactive and efficient. China can inject money and technical support but cannot inject performance in the native human resource and systems. The recipients and local partners have to be vigilant enough to watch their performance.

Xian Yang said: The post-COVID-19 world has changed completely. New business models have been put into practice in China. We have to face the reality that business has entered the 4.0 era. How can China's economic model interact and communicate with Pakistan in the 4.0 era and produce good results is the topic we want to share today.

Dr. Butt said through these initiatives, the region is not just becoming interconnected but interdependent to combat the menace of hunger, poverty, extremism, and pandemics. The people-to-people connectivity aspect is crucial in sharing best practices, and cultural aspects as well as trade and promoting a well-diversified portfolio with the interconnectivity of markets in agriculture, manufacturing etc.

Dr. Tahir Mumtaz Awan said: Pakistan can explore opportunities for enhanced economic cooperation with Central Asian states, facilitated by China's investments and initiatives in the region. This could include trade expansion, joint ventures, and investment projects in sectors such as infrastructure development, energy, agriculture, and manufacturing. The focus on increasing rail, road, and flight connections in the region can benefit Pakistan as it seeks to enhance its connectivity with Central Asia.