FROM EIR DAILY ALERT

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China’s International Import Expo a Showcase for Global Economic and Trade Cooperation

Oct. 31, 2018 (EIRNS)—The China International Import Expo (CIIE) in Shanghai on Nov. 5-10, which is shaping up to be an enormous, economically and strategically important event, to not only showcase China’s economic achievements and potential, but also consolidate cooperation with many countries, in the framework of the Belt and Road Initiative (BRI). Of the 130 countries and regions attending, over 50 of them are involved in the BRI.

This is the first of what will be henceforth an annual event. The numbers are impressive: More than 3,000 companies will be represented, including 200 considered to be leaders in their respective industries, Xinhua reported today. The United States is not sending an official delegation, but 180 American companies are sending delegates. All other members of the G20 will be represented, as well as 30 of the world’s 44 least-developed nations. There will be 5,000 exhibits, and a total of 160,000 domestic and foreign buyers are expected.

As previously reported, Chinese President Xi Jinping will attend the Expo’s inaugural session, and will welcome 18 visiting heads of state and government, all of whom will later attend a banquet dinner along with other foreign dignitaries. Several of the heads of state are also on state visits to China, or engaged in important bilateral talks while there.

Global Times wrote yesterday that CIIE will be important for China’s own development as well, “as facilitating opening-up and expanding imports will contribute to the high-quality growth of the nation’s economy.” Among other things, the Expo is expected to upgrade domestic industrial infrastructure, by introducing advanced technologies and equipment. The CIIE hopes to make clear, Global Times points out, that China’s opening-up is a process that requires “discussion and negotiation by domestic and foreign parties, concerning what we need and what they can provide.”