Beijing, China – This Tuesday, international political figures and business leaders gathered at the opening of the China International Supply Chain Expo in Beijing. Their message was clear: the world needs stronger cooperation to tackle global challenges.
Amid rising geopolitical tensions and growing trade protectionism, leaders emphasized the importance of an inclusive trading system. “We hear terms like the end of globalization, decoupling, high fences and small gardens,” said John Denton, Secretary-General of the International Chamber of Commerce. “But in the end, the world needs a functioning and inclusive trading system for the benefit of all businesses and individuals.”
Dominic Barton, Chair of Rio Tinto, echoed this sentiment. “Global businesses can play a pivotal and unifying role in promoting supply chain coordination and free trade,” he said. “It’s essential for all of our prosperity. I’m confident that we will all be able to do this.”
The expo, now in its second year, runs through Saturday and features over 600 companies from around the globe. Exhibitors are showcasing the latest technologies and products in fields like advanced manufacturing, green agriculture, and clean energy. Notable participants include Apple, Bosch, Baowu Steel, XPENG, and Rio Tinto.
Hungary’s Minister of Foreign Affairs and Trade, Peter Szijjarto, highlighted the timely nature of the event. “Connectivity—not the blocks—should characterize the upcoming decades,” he said. “For the world’s development and prosperity, it’s crucial we work together.”
During the expo, business representatives jointly proposed the Beijing Initiative, outlining five key actions for the future of global supply chains: promoting open cooperation, advancing digital connectivity, supporting green and low-carbon development, enhancing supply chain services, and leveraging the unique role of business communities.
Ren Hongbin, President of the China Council for the Promotion of International Trade (CCPIT), stated that global supply chain connectivity is an unstoppable trend. “The expo aims to build bridges of industrial integration, innovation, and market connectivity,” he said. “We hope to foster broad consensus and achieve win-win cooperation for a brighter future.”
According to a report published by the CCPIT, global supply chain connectivity has reached a historic high despite challenges like the COVID-19 pandemic and geopolitical tensions. This suggests that the negative impacts of decoupling and protectionist policies have been temporary and limited.
As the world faces enormous challenges, the message from Beijing is one of unity and collaboration. Attendees agree that while fragmentation comes at a high cost, cooperation can lead to unprecedented benefits for people everywhere.
Reference(s):
Intl leaders urge stronger supply chain cooperation at Beijing expo
cgtn.com
