Thu, September 06, 2012
Business > Economy > APEC 2012 in Russia

China, crucial power to promote economic growth in Asia-Pacific

2012-09-05 16:32:49 GMT2012-09-06 00:32:49(Beijing Time)  Xinhua English

VLADIVOSTOK, Russia, Sept. 5 (Xinhua) -- China is a major driving force for economic growth in the Asia-Pacific region, a senior member of the Pacific Economic Cooperation Council (PECC) said Wednesday.

"China has become a major partner for almost all the economies in the Asia-Pacific region, so the regional development is closely linked with China's economic trends," Eduardo Pedrosa, secretary general of the PECC International Secretariat, told Xinhua in an interview.

China has grown significantly over the past 30 years, Pedrosa said, adding that nowadays any slowdown in the country would affect exports of other economies.

"That's why I believe in that a slower growth in China will pose a bigger risk than a slower growth in the United States or the European Union (EU)," he said.

In recent years, China has placed emphasis on shifting its development model and has made achievements in developing green energy.

"Not only for China, but also for all APEC members, green energy should be identified as one of its key priorities," Pedrosa said.

Pedrosa also suggested that China should further liberalize its trade of green technology.

"With costs going down, China will become the world's number one exporter of solar panels," he said, adding that the application of solar energy would increase the usage of green technologies.

Meanwhile, Pedrosa called on APEC members to strive for new growth strategies and exert joint efforts to stimulate the regional economy because the Pacific Rim economies are influenced by a tottering global economy.

"According to the data, the exports of China and other Asian economies to the EU have been dropping," Pedrosa said. "It means the external sector won't be driving growth as much as it has been in the past."

As regards the upcoming APEC Economic Leaders' Meeting, slated here for Sept. 8-9, Pedrosa said that, besides four priorities, the leaders from the 21 economies would discuss regional economic prospects and the eurozone crisis' effects on the Asia-Pacific region.

Pedrosa spoke highly of the APEC mechanism, commending it as an important gathering.

"When it began, it was very unique and it brought together leaders of both developed countries and developing economies. I think all the economies have benefited from their participation in the organization," he said.

Founded in 1980, the PECC is a non-profit international organization committed to promoting cooperation and dialogue in the Asia-Pacific region.

As the only non-governmental official observer of APEC, the PECC provides an independent annual report titled "State of the Region" on major regional developments.


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