The World Significance of China's Accelerating Construction of a New Development Pattern

Ji Si, Contemporary World

Presently, the profound changes unseen in a century and the unprecedented COVID-19 pandemic unseen in a century are interwoven, superimposed and resonant, so the increasing global threats and challenges have become the common problems facing development of all countries. The 5th Plenary Session of the 19th CPC Central Committee emphasizes accelerating construction of a new development pattern, which not only opens up new space for China's economic development, but also adds new impetus to recovery of the world economy, and provides new thinking for various countries to respond to the challenges.

Pointing out the practical path for the world to solve the common problems. Under the novel coronavirus pandemic, the world economy has been in a great recession, economic globalization is facing adverse currents, protectionism and unilateralism on the rise, the fragmentation of global industrial chain and supply chain aggravating, and the external environment of the development of various countries becoming more unstable and uncertain. A blind following the Western liberal dogma, or returning to a closed “island”, or even engaged in “home-country first”, neither of which can solve the fundamental problems, so the global problem should be dealt with globally based on it sickness. China has accelerated the construction of a new development pattern with domestic circulation as the mainstay and domestic and international circulation reinforcing each other, has realized scale economy based on domestic circulation, consolidated the industrial foundation of participating in international economic division, formed a high-level dynamic balance of demand driving supply and supply creating demand, and pioneered a development path from home to abroad and the two combined, and provided enlightenment and reference for various countries in the world, especially large-scale economies to realize high-quality and sustainable development, and the "Chinese wisdom" for solving common development problems.

Providing a way of thinking for the world to withstand the common risks. One is the systematic concept. Through forward-looking thinking, overall planning, strategic layout and holistic promotion, overall coordination of the domestic and international situation, and managing well both issues of development and security, it is of great theoretical and practical significance for all countries to better cope with the risks and challenges brought about by the changes unseen in a century and comprehensively and coordinately promote economic and social development. Second, having awareness of taking the initiative. As pointed out by General Secretary Xi Jinping, "the new development philosophy is ironed out according to the changes of China's development stage, environment and conditions, and is a strategic choice to reshape the new advantages of China's international cooperation and competition". This awareness of actively meeting challenges rather than passively responding to the crisis is critical for all countries to actively overcome difficulties and realize economic recovery. Third, dialectical thinking. The new development philosophy highlights the dialectical unity of the relations between the whole and the composition, domestic and international, security and development, current and long-term, which is the latest achievement of combining the basic principles of Marxist political economy with China's practice and the characteristics of the times.

Opening the door of opportunity for the recovery and prosperity of world economy. The new development philosophy will effectively promote China's economic development, add a bright color to the world economy in the haze of the pandemic, and provide a strong driving force for the global recovery and development in the post-pandemic. President Xi Jinping stressed in the keynote speech at the APEC CEO Dialogue in 2020: "we will never go back to history and will not seek to" decouple "or engage in a closed circle. The new development pattern is by no means a closed domestic single cycle, but the domestic and international duel cycle of fully expanded opening-up. It is the changes from "external promoting internal" to "internal promoting external" that is "new", and is bound to make China's market a world market and a shared market through more efficient realization of internal and external market connectivity and sharing of factors resources.

(Edited excerpts of the article in Contemporary World, No.12, 2020)