on september 16, ning gaoning, chairman of chemchina, attended the 2018 china development forum special session in beijing. he delivered a speech on the topic “challenges and future of the global trading system,” pointing out that the chain of the world economy, trade, and investment is an integral cyclical whole. against the backdrop of globalization, no country can develop in isolation.
chairman ning believed that, at present, the us trade war may bring about some increase in costs, which may be the case in the early days. the world needs time to adapt and adjust itself. although trade friction may change the flow direction of raw materials, accessories, products, capital and other elements in the chain, the development, and flow of world trade and investment will not cease because of some trade friction.
also, ning pointed out that china’s economic development has continued to be strong and people's living standards have been improved significantly in the past 40 years since china's reform and opening up, thanks to china's political and economic system suited to its national conditions. also, he stressed that china needs to continue to deepen reform, which is a consensus formed in today's chinese society. however, china has a vast territory and a large population. it needs to weigh many issues and take into account multiple interests. this means that china's reform will be a gradual process.
the 2018 china development forum special session was held in beijing on september 16 and 17. at the meeting, representatives from the global academic and business circles discussed in depth the great achievements of china’s 40th anniversary of reform and opening up and the international economic situation against the background of increasing global trade friction. several representatives of central enterprises attended the seminar.
