China’s entry into the World Trade Organization (WTO) two decades ago was “a tremendous drive towards globalization”, benefiting both China and the world, says top US economist .

“Without (China’s) accession to the WTO, a lot of economic growth and integration would not have taken place,” Jeffrey Sachs, director of the Center for Sustainable Development of China, told Xinhua in a recent interview. ‘Columbia University.

Sachs said he believes in globalization, “because we really have the benefit of sharing our knowledge, of travel and tourism, of different cultures, of different ways of knowing, of different ways of innovating.”

He noted that China has grown as an important player over the past decades, becoming “the main trading partner for most of the countries in the world now”, which is not only “a remarkable achievement”, but also “a huge benefit to the world”.

Over the past 20 years, China’s world merchandise trade rank has fallen from sixth to first, while its services trade has fallen from 11th to second.

Calling China’s sustained efforts to develop economic and trade relations with other countries “an excellent strategy,” Sachs said it is recommended that the world’s second-largest economy “continue to increase trade with other countries. parts of the world, “adding that China” can play a huge positive role “in the development of regions such as Southeast Asia, Central Asia and Africa.

Initiatives such as the Belt and Road Initiative are very important to help finance development in other places, modernize infrastructure and build economies that are still lagging behind, which in the long run is “mutually beneficial,” he noted.

Sachs, who is also a senior adviser to the United Nations, praised China’s role in safeguarding multilateralism.

“China is a big supporter of the multilateral system, and that’s exactly what we need right now,” he said. “Most of our problems are on a global scale. If we don’t have effective global institutions, we won’t be able to solve these problems.”

Sachs also stressed China’s “very constructive role” in stabilizing the global supply chain, noting that other countries should also play their separate roles in mitigating current supply chain disruptions.

At the same time, he stressed the importance of keeping “the international trading system open” because “an open international trading system is good for the world”.

Sachs warned of the consequences of the United States’ obsession with the so-called “decoupling” theory, while stressing the need and urgency for closer collaboration between the world’s two major economies.

“Those who say we should go our separate ways could lead us to conflict, which would be very dangerous. I love the interdependence,” he said.

“It is extremely important that China and the United States find cooperative approaches” to resolve their differences, maintain normal economic relations and work together to solve big problems like climate change, the COVID-19 pandemic and conservation ecosystems, he said. added.