A bird's eye view of Qingdao. (Photo from People’s Daily online)
Recently US President Donald Trump's "drunken fist" on trade issues has dazzled the world. Its allies have all been affected. Grievances and anger enshroud the West. Many of Trump's practices are like "drunk driving," which is destroying the global trade regulations and inviting chaos to the world economy.
Coinciding with the 44th G7 summit that is convening in Quebec, Canada, the 18th Shanghai Cooperation Organization (SCO) summit will kick off this weekend in Qingdao, East China's Shandong Province.
The G7 is a "melee" where the US became a target for criticism. In contrast, the SCO is exceptional and features friendship and mutual trust.
The SCO was founded 17 years ago and has become a model international institution in stabilizing international relations and enhancing interconnection.
It emphasizes equality and coordination in solving world issues. This feature distinguishes it from its other counterparts. In this big family, everyone calmly discusses the core issues of different concerns and many countries want to join in.
Today, by joining hands with the Belt and Road Initiative, the SCO can provide the strongest impetus for world economic growth and the largest market for Western technological products and services. Its development potential cannot be overlooked.
The Belt and Road Initiative was launched by China but was open to all countries, enterprises and personnel with similar interests and desired to create wealth for the benefit of all people. In this regard, no one wants to be excluded or abandoned. Many entrepreneurs scramble for an "invitation letter" from China, hoping to grasp this opportunity.
Under such circumstances, Chinese companies need to stay calm and be cautious when making every decision. In particular, rash decisions should be avoided.
At present, many industrial parks that have been completed or are under construction in countries along the Belt and Road are seeking investment and resources. Chinese companies can achieve their safe and sustainable development only if they work closely with the local governments and have the support of other countries' businesses, so that all profits can be shared across the board.
The Belt and Road Initiative should be implemented gradually, otherwise it will turn wild and benefit neither side.
When the world economy seems to fall into a mess and all parties are wrestling for discourse power, China seizes its "steering wheel" firmly and focuses on economic construction, striving to thrive in chaos.
There is an ancient Chinese saying that "There must be peace and order after the chaos." Thanks to China's role as a mainstay, the chaotic era will not last for long, and the order will resume in the shortest time. The SCO should be the force controlling the chaos and maintaining order.
Bai Juyi, a renowned Chinese poet in the Tang Dynasty (618-907), said: "Sages pursue profit, but they are for the benefit of all people; saints seek wealth, but for prosperity of all humankind." This phrase can annotate today's Belt and Road Initiative well.
Even the ancestors of China had such noble ethical pursuits, similar to those of people of today. The Belt and Road Initiative is trying to achieve "benefiting and enriching all."
The author is a senior fellow with the Chongyang Institute for Financial Studies at Renmin University of China.
Source: People’s Daily/Global Times
