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Lamy: China is still a developing country
www.chinanews.cn 2005-01-20 12:21:07
Chinanews, Jan.19 - At the 2005 Caijing Magazine Leadership Forum held in
Beijing yesterday, Pascal Lamy, a former European Union (EU) Trade
Commissioner, said that China was still a developing country. The view
that China had already become a developed country was false.
Lamy, now a visiting professor with Paris's Sciences Pollitiques, said
that China's economy was growing very rapidly and manifesting multiple
characteristics. On the one hand, China's economy was displaying features
typical of a developing country, such as heavy reliance on international
trade for its economic growth and rapidly growing per capita purchasing
power. On the other hand, the absolute figures of the various components
of China's economy were very high, representing an increasingly large
proportion of the figures in the global economy. This has caused many
people, especially Westerners, to wrongly believe that China has become a
developed country.
Lamy added that China was now adopting stable and effective economic
strategies. With more and more foreign investment coming in since its
accession to the World Trade Organization (WTO), China's investment
environment has been improving significantly. More and more investors
discovered that China's laws and regulations were becoming increasingly
transparent, while its market was becoming more systematic. Lamy pointed
out at the same time that China's economy was also facing risks and
challenges. It had a long way to go in the areas of intellectual property
protection, reform of the financial system, and the solution to the
problem of a lack of balance between its societal development and
environmental development.
"I think the signal that China is sending out to the world this year is
positive. At present, it is acting firmly in carrying out some necessary
economic reforms, which is a very important point when we consider its
economic scale and its proportion in the global economy", said Lamy.
E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649
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