(This article is taken from Lu Kewen's speech at the "Opening Speech" section of the 14thAnnual Meeting of IFF)
On November 18th, IFF Chairman and 26th Australian Prime Minister Kevin Rudd attended the opening ceremony of the 14th International Finance Forum (IFF) Global Annual Meeting (F20 Summit) and delivered a speech. He gave a keynote speech on China's role in the future global order. Rudd pointed out that within ten years, the Chinese economy will surpass the United States at market exchange rates.
Rudd's speech is as follows:
As the chairman of the International Finance Forum, I welcome everyone! I also thank the Guangdong Provincial Government, the Guangzhou Municipal Government, and the Nansha District Government for supporting the IFF permanent meeting site in Nansha. Nansha is the starting point of the ancient Maritime Silk Road and the core of the Guangdong, Hong Kong and Macau Dawan District. For IFF, this is also a new era. At the beginning, the world today has entered a new era, facing major developments, major changes, major adjustments, and global economic governance and geopolitical balance have entered a period of deep adjustment. Therefore, today I want to talk about China’s role adjustment in the future global order.
I have been studying Chinese language, history and culture for more than 40 years since I started studying at the Australian National University. I am already an old cadre. From the Third Plenary Session of the Eleventh Central Committee in 1978, the annual party congress, including the 19th National Congress, will study and study. For many years, as a scholar, as a diplomat, a businessman, a member of parliament, a foreign minister, a national prime minister, a friend, and an international citizen, I have always been concerned about China’s politics, economy, diplomacy, etc. I have also had the privilege of meeting with many Chinese leaders. Wisdom has benefited me a lot. Therefore, even as a foreigner, 100% of foreigners must have some limitations. I also witnessed the profound changes brought about by the reform and opening up to China, from the beginning to the present.
As we all know, over the past 30 years, China’s economic development has made tremendous achievements. When I started learning Chinese, China’s economic aggregate was similar to that of Australia’s economy, but it is now changing a lot. Today, in terms of purchasing power parity, China has surpassed the United States. Within a decade, at the market exchange rate, the Chinese economy will also surpass the United States. At the same time, China’s per capita income has grown and 700 million people have been out of poverty. This is remarkable. When I was a child, my father died early. My mother and I and my brothers and sisters sometimes have no place to live. So I am old, I know deeply that poverty does not have any dignity. It is a great one to liberate from the humiliation of poverty. Things. China should be proud of what it has achieved. This is the result of several generations of Chinese leaders who persist in pursuing market-oriented reforms and adapting to economic globalization. This continuity of policy is also the key to China's continued success in the future.
General Secretary Xi Jinping’s report on the 19th National Congress attaches great importance to economic reform and financial security, and links China’s development with the development of the world. Chinese leaders have recognized the need to implement a new economic reform blueprint and change China’s economic growth model. To achieve a fully balanced sustainable development. China needs to shift from a low-wage, labor-intensive, environmentally-friendly export-oriented economy to a new economic model driven by high-income, high-skilled, technological innovation, and environmentally sustainable development.
The full development of China's economic balance requires de-capacity, destocking, de-leveraging, the development of service industries and sustainable development, and domestic consumption demand, while continuing to open up, especially the opening up of the financial industry, which is also important for increasing China's economic competitiveness. means.
In the opening up of the financial industry, we have recently seen some positive signals, including in the banking and insurance industries. This is very good and has received great attention and welcome in the West. Everyone hopes to learn more about specific policy arrangements. Of course, every reform is a new challenge. There is a saying in China that it is not broken. When the planned economic system was reformed, Deng Xiaoping proposed to break the iron rice bowl. At that time, I remembered a very sensitive thing. Today, we must break something, and reform can move on.
As we all know, the future of China's economy is not only related to China, but also affects the world. For the world, the global economy has faced many unfavorable factors in the past five years. The performance of the US and Europe is not very good. The world economy needs new growth levels and power sources. . And we know that the World Bay Area economy can provide such growth and power sources. The Guangdong, Hong Kong and Macau Bay Area is the world's fourth largest Bay Area after the New York Bay Area, the San Francisco Bay Area and the Tokyo Bay Area. It is a world-class city in China. An important space carrier for the group to participate in global competition.
The “Belt and Road” advocated by Xi Jinping, I have supported it since the beginning. Why? It's simple, because the world needs infrastructure, which can provide new impetus for economic growth and lay the foundation for sustainable development. China's own development is proof that the Guangdong, Hong Kong and Macau Bay Area is an important support area for the “One Belt, One Road” radiation Asia Pacific to the world.
We must also note that in addition to the future of China's economy, the international community has always been concerned about how China's wealth and strength will use its wealth and strength in the world. There is no doubt that this will bring about changes in the current world situation, but the question is how to change. Ten years ago, as the Australian Prime Minister, I proposed the concept of establishing an Asia-Pacific community. Next month at Peking University, we will also release a new report on Asia-Pacific security, with the aim of bringing all countries in the region, including the United States, China, and Other regional countries work together, have something to say, and have something to discuss. If we fall into the zero and cold war mentality, political and strategic differences will increase, it will deepen, diplomatic action will be invalid, and the cooperation mechanism will be empty. This is why I began to study the concept of Xi Jinping’s world and the community of human destiny. In other words, the world needs to understand this concept carefully to understand the future relationship between China and the world, and the significance of this concept to the peace and development of the future world. This is very important to China, important to the region, and important to the world.
Through international financial exchanges, dialogues and cooperation, the International Finance Forum can serve as a bridge between China and the world, help the Chinese economy and the world economy to interact positively, achieve comprehensive and sustainable development together, and give everyone a new contribution to promote the whole. The permanent peace and prosperity of mankind.