In a refreshing twist on global narratives, Asia is sending a powerful message of growth and cooperation. Amid rising protectionist sentiments sparking anxieties in Davos and Munich, over 2,000 representatives from more than 60 countries and regions have gathered in Hainan, China, for the annual Boao Forum for Asia (BFA).
The forum's upbeat tone is bolstered by the Asian Economic Outlook and Integration Progress Annual Report, which projects Asia’s share of global GDP to rise from 48.1% in 2024 to 48.6% in 2025. This projection underscores the continent’s unwavering commitment to openness and mutual collaboration.
At the heart of the discussions, Chinese Vice Premier Ding Xuexiang stressed, "We should jointly safeguard the free trade system, uphold open regionalism, and firmly oppose trade and investment protectionism," emphasizing tangible actions over words in the face of global economic challenges.
A key pillar of this optimism is the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest free trade agreement by members' GDP, comprising 15 Asian economies. With a 3% year-on-year increase in trade value and forecasts predicting a $10.9 trillion GDP boost from 2023 to 2029, RCEP is setting a robust course amid headwinds.
With bold ideas and practical steps in play, Asia is carving out a future full of promise and stronger global connections 🚀. As the forum unfolds, the message is clear: free trade and international cooperation remain at the heart of Asia's dynamic rise.
Reference(s):
Amid West's anxieties, Asia strikes a positive tone for growth
cgtn.com
