He Yafei

The latest round of the US-China strategic and economic dialogue in Beijing witnessed a reaffirmation by presidents Xi Jinping and Barack Obama of their intention to build a new model of major power relations between China and the United States.

The African continent, with its fast growth of the past decade, is a future wonderland for prosperity that will benefit foreign investment and entrepreneurs. Strangely, rumours have been circulating that target China as a "villain" who is plundering Africa for its energy resources. That's a big lie. The real story about China and Africa is one of a long-lasting friendship based on mutual benefit and support.

This year, China will begin building a new maritime silk road to revive a route that historically contributed to its flourishing economic ties with neighbours in Southeast Asia and beyond.

As China enters 2014 with the orderly unfolding of reforms outlined at the third plenum, the external environment is brimming with challenges, including US reindustrialisation unleashed after the global financial crisis.


The Communist Party's recent third plenum outlined the strategy and road map for comprehensive reforms to meet China's pressing challenges. One such challenge is to resolve industrial overcapacity and implement the "going out" strategy for Chinese enterprises. The solution is to combine the two elements to create a new thrust in the metamorphosis of China's economic development.

It has been more than five years since the global financial crisis caught us unprepared in 2008. What lessons have we learned? Looking back, nobody will miss the fact that the world has undergone some tremendous changes.

We are witnessing the balkanisation and fragmentation of traditional multilateralism today, which has resulted in a mushrooming of both bilateral and regional free trade agreements in recent years.

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