In 2020, due to the continuous impact of COVID-19 and the impact of economic downturn, globalization will encounter unprecedented severe challenges. Under the new circumstances, as a Chinese plan to boost global governance, what impact will the "BRI" initiative have on globalization? How does BRI interact with the world to achieve high-quality development?

At the BRI Entrepreneurs Forum recently held at Fudan University, China Belt and Road Network interviewed Wang Huiyao, President of CCG. He said that although the tide of anti-globalization has swept the world, it is now at a turning point, and it is crucial to establish a multilateral cooperation mechanism of BRI. The multi-lateralization of BRI will become a strong driving force for global economic recovery and growth in the post-epidemic era, and open a new starting point for BRI to better reach out to the world.

His research interests include globalization strategy, global governance, talent development, internationalization of enterprises, international relations, innovation and entrepreneurship of Chinese returnees, and think tanks.
Enhancing multilateral cooperation is a turning point in the globalization process
Despite the impact of COVID-19 on international exchanges, more than 20 "online" or "online + offline" international meetings have been held by countries along the BRI in multilateral cooperation since 2020. For example, ministers from 25 countries, the Director-General of the World Health Organization and the Administrator of the United Nations Development Programme attended the BRI High-Level Video Conference on International Cooperation held in June this year. After the meeting, they issued a joint statement, pledging to continue to strengthen the BRI international cooperation.
China's Belt and Road Network: What do you think of the development of BRI against the background of globalization?
Wang Huiyao: BRI has laid a very good foundation in the past seven years, and now it has entered a new stage of consolidation and improvement.
The world today is undergoing profound changes unseen in a century, and the process of globalization has encountered unprecedented setbacks. In spite of this, China is still actively strengthening multilateral cooperation and expanding its circle of friends in globalization. For example, China and 15 other countries recently signed the Regional Comprehensive Economic Partnership (RCEP). We are working hard to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), striving to be carbon neutral by 2060, and speeding up negotiations on a China-EU bilateral investment treaty.
As can be seen from the concrete actions taken by China to actively promote multilateral cooperation, globalization has encountered a negative current, but now it is also a turning point. Countries around the world should learn from the pain and consider how to further promote global economic recovery and growth after the epidemic, which requires a bigger stimulus to promote global cooperation. I am optimistic about the establishment of a "BRI" multilateral cooperation mechanism.
China's Belt and One Road Network: What do you mean by the "BRI" multilateral cooperation mechanism?
Wang Huiyao: The fundamental principle of "BRI" is wide consultation, joint contribution and shared benefits. It is the principle of multilateralism. In the past seven years, China has signed agreements with more than 130 countries to jointly build the BRI, but most of them are bilateral and multilateral mechanisms are very few. If the political situation of the countries along the routes changes, we may encounter some new problems.
We have signed up to some multilateral mechanisms. For example, we have cooperated with the World Bank and the United Nations, but this is not enough. What is more important is to establish a "BRI" multilateral mechanism, which truly embodies wide consultation, joint contribution and shared benefits.
China's Belt and Road Network: How to Promote the Establishment of "BRI" Multilateral Cooperation Mechanism?
Wang Huiyao: First, consider setting up an international steering committee for BRI. For example, if the Belt and Road Forum for International Cooperation is held every two years, we may consider inviting heads of state from dozens of countries attending the forum to form a BRI international advisory committee.
Second, set up a "BRI" international cooperation center. The "BRI" initiative needs to be institutionalized. An international cooperation center could be set up, with representatives selected by countries along the Belt and Road. The headquarters could be set up in Beijing and representative offices in other countries and regions could be set up. In this way, we can better connect the "BRI" project and a lot of consultation, and carry out publicity and promotion. If companies and institutions in countries along the Belt and Road want to learn more about the "BRI" projects or carry out cooperation, they can go directly to the Belt and Road International Cooperation Center for consultation. If there is such a multilateral participation mechanism, it will be able to advance the development of the BRI in an orderly way and help the BRI to achieve steady and long-term development.
Third, strengthen cooperation with international "BRI" institutions. We can learn from the model of AIIB and cooperate with international multilateral development banks such as the World Bank, the Asian Development Bank and the African Development Bank to jointly provide loans for "BRI" projects, release "BRI" projects to the world and conduct bidding. This process is transparent. The participation of these multilateral infrastructure banks will greatly facilitate the development of BRIs and reduce the misjudgment or stigma of BRIs.
In addition, in terms of common governance, we will promote the establishment of a "BRI" Charter in line with the UN Charter and the UN 2030 Development Goals. The BRI Initiative is in line with the goals, purposes and philosophies of the 2030 Agenda for Sustainable Development of the United Nations, and is highly aligned with the common interests of the UN Member States. The establishment of the "BBB 0" charter can promote multilateral cooperation and reduce the suspicion of countries.
The signing of RCEP inspired the multilateralization of BRI
The 17th China-ASEAN Expo (East Expo) was successfully held from November 27 to 30 in Nanning, Guangxi Zhuang Autonomous Region. China - asean expo secretariat, secretary general wang lei said that east expo as a model of China - asean regional cooperation, the future will continue to deepen the service of political diplomacy and the important role of the construction of the "region", make the high-level dialogue platform from "10 + 1" to expand to the RCEP, play to the china-asean good-neighborly and friendly in the RCEP radiation, drive the RCEP member states at a deeper level to participate in the "area" construction. On November 15th the RCEP was formally signed, giving birth to the world's largest free trade area.
China's Belt and Road Network: Over the past years, China has adhered to globalization and made efforts to promote multilateral cooperation. What impact will the signing of the RCEP have on globalization development?
Wang Huiyao: The signing of the RCEP comes at a very good time. It sends a signal of multilateralism to the world, or at least a signal of the return of multilateralism in the region. At a time when globalization has suffered a setback, unilateralism is in full swing and "America First", its signing is Asia's strongest call for multilateralism.
The RCEP, which has been under discussion for eight years, grew out of a regional multilateral trade liberalization and facilitation agreement initiated by the original 10 ASEAN countries. The signing of the RCEP promoted free trade between China and ASEAN countries, as well as countries like Japan, South Korea, Australia and New Zealand. For example, under the framework of the RCEP, 90% of goods are exempt from tax.
Together, these 15 countries have created the world's largest free trade circle, benefiting the largest number of people in the world. Since Asia has become the center of gravity of world development, with its GDP accounting for more than 50% of global GDP, RCEP will revitalize and enhance the economic recovery in Asia and the world at large.
One Belt One Road Network in China: What impact will the signing of the RCEP have on the future development of BRI?
Wang Huiyao: The signing of the RCEP can give us some practical inspiration. For example, we can consider cooperating with some countries and regions along the "BRI" and also sign a regional cooperation agreement on trade facilitation just like the RCEP.
One-on-one agreements are certainly needed, but what is probably needed now is a new, multilateral, high-level, and broader agreement. The signing of the RCEP is of great help to better implement the "BRI" construction and promote regional globalization and multilateralism.
Beyond infrastructure, BRI has more potential
According to the data of the Ministry of Commerce, from January to October in 2020, Chinese enterprises invested RMB98.34 billion in 57 countries along the "BRI" routes, up 24.8% year on year, mainly in Singapore, Indonesia, Laos, Vietnam, Cambodia, Malaysia, Thailand, Kazakhstan, the United Arab Emirates and Bangladesh. By sector, the number of newly signed foreign contracts for general construction, power engineering and water conservancy projects grew rapidly.
China's Belt and Road Network: In the post-epidemic era, what are your suggestions on how to promote high-quality development of BRI?
Wang Huiyao: Although the cooperation under the framework of "BRI" now focuses on infrastructure construction, in fact, "BRI" is about the development of more areas. As for how to promote high-quality development of the Belt and Road in the post-epidemic era, I would like to make the following suggestions.
First, more than 100 million Chinese travel abroad every year, most of them to developed countries. In the future, we can tilt our hand to countries along the "BRI" routes. If Chinese tourists travel to countries along the Belt and Road, there will be opportunities to improve the infrastructure of these places, such as tourism facilities, high-speed rail and other transportation facilities.
The second area with potential for cooperation is education. Every year, more than 700,000 Chinese students go abroad to study. Chinese universities can also set up schools in these countries. We can learn more about the talents of the countries along the "BRI", so as to further promote the in-depth cooperation and exchanges in the field of education.
Third, China has accumulated a lot of experience in poverty alleviation, urbanization and sustainable development over the past decades, which can be applied to improve the quality and efficiency of BRI.
Fourth, we should continue to promote the construction of overseas industrial parks, encourage resource integration, and "go global" both upstream and downstream. The model of Chinese industrial parks has actually been very successful in overseas markets. For example, in the industrial parks in Ethiopia, Huajian Group of China has employed 7,000 or 8,000 local African employees and created local jobs. The shoes produced every year account for 50% of Ethiopia's shoe exports. This kind of investment is very popular.
Fifth, strengthen more cooperation with multinational companies in third-party markets such as countries along the "BRI" routes. Chinese companies can cooperate with companies from developed or developing countries in Europe, Europe, Japan, South Korea, Latin America, ASEAN and other places to jointly build "BRI" and open up more third-party markets for cooperation, innovation and mutual benefit.
(Wang Huiyao is president of the Center for Globalization Think Group.)

In 2020, due to the continuous impact of COVID-19 and the impact of economic downturn, globalization will encounter unprecedented severe challenges. Under the new circumstances, as a Chinese plan to boost global governance, what impact will the "BRI" initiative have on globalization? How does BRI interact with the world to achieve high-quality development?

At the BRI Entrepreneurs Forum recently held at Fudan University, China Belt and Road Network interviewed Wang Huiyao, President of CCG. He said that although the tide of anti-globalization has swept the world, it is now at a turning point, and it is crucial to establish a multilateral cooperation mechanism of BRI. The multi-lateralization of BRI will become a strong driving force for global economic recovery and growth in the post-epidemic era, and open a new starting point for BRI to better reach out to the world.

His research interests include globalization strategy, global governance, talent development, internationalization of enterprises, international relations, innovation and entrepreneurship of Chinese returnees, and think tanks.
Enhancing multilateral cooperation is a turning point in the globalization process
Despite the impact of COVID-19 on international exchanges, more than 20 "online" or "online + offline" international meetings have been held by countries along the BRI in multilateral cooperation since 2020. For example, ministers from 25 countries, the Director-General of the World Health Organization and the Administrator of the United Nations Development Programme attended the BRI High-Level Video Conference on International Cooperation held in June this year. After the meeting, they issued a joint statement, pledging to continue to strengthen the BRI international cooperation.
China's Belt and Road Network: What do you think of the development of BRI against the background of globalization?
Wang Huiyao: BRI has laid a very good foundation in the past seven years, and now it has entered a new stage of consolidation and improvement.
The world today is undergoing profound changes unseen in a century, and the process of globalization has encountered unprecedented setbacks. In spite of this, China is still actively strengthening multilateral cooperation and expanding its circle of friends in globalization. For example, China and 15 other countries recently signed the Regional Comprehensive Economic Partnership (RCEP). We are working hard to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), striving to be carbon neutral by 2060, and speeding up negotiations on a China-EU bilateral investment treaty.
As can be seen from the concrete actions taken by China to actively promote multilateral cooperation, globalization has encountered a negative current, but now it is also a turning point. Countries around the world should learn from the pain and consider how to further promote global economic recovery and growth after the epidemic, which requires a bigger stimulus to promote global cooperation. I am optimistic about the establishment of a "BRI" multilateral cooperation mechanism.
China's Belt and One Road Network: What do you mean by the "BRI" multilateral cooperation mechanism?
Wang Huiyao: The fundamental principle of "BRI" is wide consultation, joint contribution and shared benefits. It is the principle of multilateralism. In the past seven years, China has signed agreements with more than 130 countries to jointly build the BRI, but most of them are bilateral and multilateral mechanisms are very few. If the political situation of the countries along the routes changes, we may encounter some new problems.
We have signed up to some multilateral mechanisms. For example, we have cooperated with the World Bank and the United Nations, but this is not enough. What is more important is to establish a "BRI" multilateral mechanism, which truly embodies wide consultation, joint contribution and shared benefits.
China's Belt and Road Network: How to Promote the Establishment of "BRI" Multilateral Cooperation Mechanism?
Wang Huiyao: First, consider setting up an international steering committee for BRI. For example, if the Belt and Road Forum for International Cooperation is held every two years, we may consider inviting heads of state from dozens of countries attending the forum to form a BRI international advisory committee.
Second, set up a "BRI" international cooperation center. The "BRI" initiative needs to be institutionalized. An international cooperation center could be set up, with representatives selected by countries along the Belt and Road. The headquarters could be set up in Beijing and representative offices in other countries and regions could be set up. In this way, we can better connect the "BRI" project and a lot of consultation, and carry out publicity and promotion. If companies and institutions in countries along the Belt and Road want to learn more about the "BRI" projects or carry out cooperation, they can go directly to the Belt and Road International Cooperation Center for consultation. If there is such a multilateral participation mechanism, it will be able to advance the development of the BRI in an orderly way and help the BRI to achieve steady and long-term development.
Third, strengthen cooperation with international "BRI" institutions. We can learn from the model of AIIB and cooperate with international multilateral development banks such as the World Bank, the Asian Development Bank and the African Development Bank to jointly provide loans for "BRI" projects, release "BRI" projects to the world and conduct bidding. This process is transparent. The participation of these multilateral infrastructure banks will greatly facilitate the development of BRIs and reduce the misjudgment or stigma of BRIs.
In addition, in terms of common governance, we will promote the establishment of a "BRI" Charter in line with the UN Charter and the UN 2030 Development Goals. The BRI Initiative is in line with the goals, purposes and philosophies of the 2030 Agenda for Sustainable Development of the United Nations, and is highly aligned with the common interests of the UN Member States. The establishment of the "BBB 0" charter can promote multilateral cooperation and reduce the suspicion of countries.
The signing of RCEP inspired the multilateralization of BRI
The 17th China-ASEAN Expo (East Expo) was successfully held from November 27 to 30 in Nanning, Guangxi Zhuang Autonomous Region. China - asean expo secretariat, secretary general wang lei said that east expo as a model of China - asean regional cooperation, the future will continue to deepen the service of political diplomacy and the important role of the construction of the "region", make the high-level dialogue platform from "10 + 1" to expand to the RCEP, play to the china-asean good-neighborly and friendly in the RCEP radiation, drive the RCEP member states at a deeper level to participate in the "area" construction. On November 15th the RCEP was formally signed, giving birth to the world's largest free trade area.
China's Belt and Road Network: Over the past years, China has adhered to globalization and made efforts to promote multilateral cooperation. What impact will the signing of the RCEP have on globalization development?
Wang Huiyao: The signing of the RCEP comes at a very good time. It sends a signal of multilateralism to the world, or at least a signal of the return of multilateralism in the region. At a time when globalization has suffered a setback, unilateralism is in full swing and "America First", its signing is Asia's strongest call for multilateralism.
The RCEP, which has been under discussion for eight years, grew out of a regional multilateral trade liberalization and facilitation agreement initiated by the original 10 ASEAN countries. The signing of the RCEP promoted free trade between China and ASEAN countries, as well as countries like Japan, South Korea, Australia and New Zealand. For example, under the framework of the RCEP, 90% of goods are exempt from tax.
Together, these 15 countries have created the world's largest free trade circle, benefiting the largest number of people in the world. Since Asia has become the center of gravity of world development, with its GDP accounting for more than 50% of global GDP, RCEP will revitalize and enhance the economic recovery in Asia and the world at large.
One Belt One Road Network in China: What impact will the signing of the RCEP have on the future development of BRI?
Wang Huiyao: The signing of the RCEP can give us some practical inspiration. For example, we can consider cooperating with some countries and regions along the "BRI" and also sign a regional cooperation agreement on trade facilitation just like the RCEP.
One-on-one agreements are certainly needed, but what is probably needed now is a new, multilateral, high-level, and broader agreement. The signing of the RCEP is of great help to better implement the "BRI" construction and promote regional globalization and multilateralism.
Beyond infrastructure, BRI has more potential
According to the data of the Ministry of Commerce, from January to October in 2020, Chinese enterprises invested RMB98.34 billion in 57 countries along the "BRI" routes, up 24.8% year on year, mainly in Singapore, Indonesia, Laos, Vietnam, Cambodia, Malaysia, Thailand, Kazakhstan, the United Arab Emirates and Bangladesh. By sector, the number of newly signed foreign contracts for general construction, power engineering and water conservancy projects grew rapidly.
China's Belt and Road Network: In the post-epidemic era, what are your suggestions on how to promote high-quality development of BRI?
Wang Huiyao: Although the cooperation under the framework of "BRI" now focuses on infrastructure construction, in fact, "BRI" is about the development of more areas. As for how to promote high-quality development of the Belt and Road in the post-epidemic era, I would like to make the following suggestions.
First, more than 100 million Chinese travel abroad every year, most of them to developed countries. In the future, we can tilt our hand to countries along the "BRI" routes. If Chinese tourists travel to countries along the Belt and Road, there will be opportunities to improve the infrastructure of these places, such as tourism facilities, high-speed rail and other transportation facilities.
The second area with potential for cooperation is education. Every year, more than 700,000 Chinese students go abroad to study. Chinese universities can also set up schools in these countries. We can learn more about the talents of the countries along the "BRI", so as to further promote the in-depth cooperation and exchanges in the field of education.
Third, China has accumulated a lot of experience in poverty alleviation, urbanization and sustainable development over the past decades, which can be applied to improve the quality and efficiency of BRI.
Fourth, we should continue to promote the construction of overseas industrial parks, encourage resource integration, and "go global" both upstream and downstream. The model of Chinese industrial parks has actually been very successful in overseas markets. For example, in the industrial parks in Ethiopia, Huajian Group of China has employed 7,000 or 8,000 local African employees and created local jobs. The shoes produced every year account for 50% of Ethiopia's shoe exports. This kind of investment is very popular.
Fifth, strengthen more cooperation with multinational companies in third-party markets such as countries along the "BRI" routes. Chinese companies can cooperate with companies from developed or developing countries in Europe, Europe, Japan, South Korea, Latin America, ASEAN and other places to jointly build "BRI" and open up more third-party markets for cooperation, innovation and mutual benefit.
(Wang Huiyao is president of the Center for Globalization Think Group.)