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HQF Insights | Zhang Yuyan: Countries should make best use of their opening capacity Release date: 2024-02-21    Source:China International Import Expo Bureau

The following text is based on the speech of Academician of the Chinese Academy of Social Sciences, Director of Institute of World Economics and Politics Zhang Yuyan at the "Press Release and International Symposium on World Openness Report 2023":

The Report results of the law of openness and the review of the practice of openness reveal that openness will indeed increase the risk factors faced by a country, but it will also enable it to strengthen its strength in trade, investment, information and other exchanges with the outside world, improve its ability to maintain security, and at the same time, enhance mutual trust and deepen the binding of interests with the outside world, and obtain a more stable external environment. The fundamental way out for national security and world security is to advocate a common, comprehensive, cooperative and sustainable security concept and strike a higher level of balance between openness and security.

The capacity for openness is the basic force that determines the degree of national openness. The degree of openness guaranteed by a country's capacity for openness is the desired degree of openness of that economy. Under the desirable degree of openness, the more open an economy is, the more development it will have, and the more development it will have, the safer it will be. People should not only emphasize the security of openness, but ignore the openness and development of security.

A country's capacity for openness should be cultivated through worldwide competition and cooperation. A country should make the best use of its opening capacity and pursue the maximum desirable opening degree, that is, the optimal opening degree, in order to obtain more net benefits from opening up. Even if a country with a leading capacity for openness reaches or even exceeds its desired level of openness, it should still make full use of its strong capacity for openness, raise the level of openness in the world, promote its own and other countries to achieve their own optimal degree of openness, and promote the building of a community with a shared future for mankind at a higher level of openness.

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