Interview: China's import expo of vital importance to global economy -- U.S. scholar

CHICAGO, Nov. 1 (Xinhua) -- Since China is the largest exporter and the second largest importer in the world, the China International Import Expo (CIIE) is of vital importance to the global economy, a U.S. scholar told Xinhua in a recent interview.

As the global economy is facing multiple challenges, this expo sends a signal to the world that a major country is standing behind free trade, open economy, and a rule-based economic order, said Khairy Tourk, professor of economics at the Illinois Institute of Technology, Chicago.

The expo, scheduled for Nov. 5-10 in Shanghai, provides a platform for companies from around the world to display their products, promote their brands, and find more business partners in the world's second-largest economy.

For developing countries, exporting to China will allow them a better position in dealing with economic challenges, Tourk said. "It's really energizing the world economy and creating a solid foundation for future."

Developed countries are also active participants in the expo because China not only offers a huge market, but also high-level skilled expertise that they can hardly find anywhere else, he said. "China is becoming a market kit that no country can do without."

In addition, the face-to-face exchanges in the expo will create friendships that are important for nations to understand each other, he said.

Tourk speaks highly of China's efforts to support free trade as the world has been facing some anti-globalization trends.

He praised the Belt and Road Initiative and the Global Development Initiative for demonstrating the wisdom of an old civilization and the true spirit of China.

"They reflect the Chinese ethical traditions, which promotes stability and harmony and stresses the moral obligations of helping the less fortunate ones, whether the less fortunate ones are individuals or nations," he said.

Moreover, "the most important thing about the Chinese economy is that it's predictable," said Tourk. "It is enjoying a steady and positive growth, a stable currency, and a financially strong foundation. That's why China is a very attractive country to invest in."