World Insight with Tian Wei

This is the second episode of our special program. We continue our talks with global experts about China's economy and its role in the world.

2024 has seen more challenges in global governance. Regional conflicts and geopolitical tensions have hindered the global economy and international cooperation. How can restoring development return to the top of the world's agenda? And how could new quality, productive forces help boost economic transformation? In this episode, we asked global experts on China's economy and its role in the world.

Since the signing of the Marrakesh Agreement that founded the World Trade Organization on April 15 in 1994, global trade has surged to over 30 trillion U.S. dollars in 2023. That's a fivefold increase since 1995. Tariffs have also gone down under the WTO, resulting in lower trade costs. China, for its part, has opened up to trade in the last 23 years, since joining the WTO. It has managed double-digit growth over the decades, benefiting its people and the world. Thirty years after the WTO's founding, how well has the organization carried out its mission? And, how can China better contribute to a more inclusive and free world trade?

The World Trade Organization has navigated thirty years of significant change. This episode is joined by Zhang Yuejiao, the first Chinese national to be appointed as a member of the WTO Appellate Body.

Chinese lawmakers are deliberating a draft of the country's first law focused on the development and protection of the private sector, aiming to legally bolster the private economy amid strategic reforms to optimize the business environment. Experts share their insights on China's private sector development.

The Chinese government plots a new path forward for economic growth. Economics Professor Jin Keyu breaks down the complexities of the new policies and shows us why China is headed in the right direction.

The younger generation from Macao sees their future closely connected with the motherland and the world. Alice Ho is one of them. She was born in 1999, exactly the year when Macao returned to the motherland. We visited and talked to her this week.

At the recent annual Central Economic Work Conference, the priorities on China's economy in 2025 were up for deliberation. China will take a more proactive fiscal policy, with a higher deficit-to-GDP ratio. It will carry out a moderately loose monetary policy, and take measures to ensure ample liquidity. According to the International Monetary Fund, or IMF, China remains the major contributor to global economic growth this year. How can China sustain growth? How has China's pursuit of high-quality development affected global growth? We spoke with Steven Alan Barnett, the IMF senior resident representative in China.

The Shawshank Redemption has made a big impression on global movie-goers. Recently, its new Chinese stage adaption has been presented in Beijing. The unique thing is that it's performed in Chinese by foreign actors from eight different countries. Mark Henry Rowswell, a well-known Canadian comedian among Chinese audiences, plays Red, the narrator in the movie. In this episode, we talked with him about his role.

Thirty years after the launch of the WTO, global trade has surged to over 30 trillion U.S. dollars in 2023. And, tariffs have declined significantly under the WTO. Yet, free trade has its big challenges, such as the European Union's anti-subsidy case involving Chinese electric vehicles, and the U.S. President-elect's intention to top up tariffs on foreign goods. How can the WTO better cope with cross-border barriers, and expand trade?