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XINHUA-PAKISTAN SERVICE

China to aggressively promote concept of shared destinyBreaking

November 10, 2017

BEIJING, Nov. 10 (INP) President Xi Jinping will aggressive promote China’s new concept, building a community with a shared future for humankind. While attending annual APEC Economic Leaders’ meeting, being held in Vietnamese port city, he will plead for free trade within the region to achieve the objective. Xi had announced China's proposition to build a community with a shared future for mankind and achieve shared and win-win development in a keynote speech at the UN Office at Geneva in January. Such proposition could also enlighten and guide the development of the Asia-Pacific, as thoughts and words are turned into concrete actions benefiting regional countries The Belt and Road Initiative, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, well illustrates the philosophy and vision of a shared future for humankind. It aims to build trade and infrastructure networks connecting Asia with Europe and Africa via overland and maritime routes, with a large part within the Asia-Pacific. Experts say the initiative has been actively promoting the development of infrastructure through the APEC region, strengthening tangible connections among members so as to ensure further integration. "The Belt and Road Initiative is a key program to increase connectivity within the region, and between the region and the rest of the world," said Jayant Menon, a lead economist from the Asian Development Bank. "Trade costs are directly related to the level of connectivity, and as these costs come down, integration is certain to rise." The idea of a shared future for mankind also contains a commitment that China is making to globalization and multinationalism, which is essential for the trade among APEC members, and is in accordance with the common interest of humanity. "The commitment to multilateralism seemed to have been lost in recent years in industrialized countries," Drysdale said, warning that if many of the countries don't assert the principle strongly, "the whole rationale upon which the East Asia and Asia Pacific economic prosperity is based will be under threat." Experts say China's persistence in promoting multilateralism is worthy of praise. "China has been a major proponent of multilateral free trade," said Menon. "As the world's largest trading nation, it has everything to gain from preserving multilateralism." INP/J/AH