Boao Forum Draws New Blueprint for Asia

By LIN MINWANG

CHINESE President Xi Jinping’s keynote speech at the annual Boao Forum for Asia, held in Hainan Province from March 26 to 29, entitled “Towards a Community of Common Destiny and a New Future for Asia,”  received a warm response. It is now plain to see that China’s growing influence in the global economy and financial market has given it a more important global role, and that its capacity to reshape the future pattern of Asia is expanding.

Meanwhile, more neighboring countries harbor high expectations of the rising China and of boarding the country’s fast train of development, in hopes of promoting their own prosperity and progress. The combination of these two factors has generated a news fest from this Chinese “Davos,” whose unprecedentedly strong lineup of guests could well herald Asia’s new geopolitical pattern. In 10 to 20 years’ time, therefore, we might recall the forum as a significant event for both Asia and China.

Community of Common Destiny 

China regards its pursuit of Asia’s comprehensive interests as its main contribution to the 2015 Boao Forum for Asia.

President Xi Jinping outlined in his speech the unprecedented changes that have occurred in Asia over the past 70 years. Certain countries have achieved national independence, and found the development path best suited to their respective situations. They have advanced from poverty and backwardness to development and revitalization, and their economy has entered the fast lane. Regional and trans-regional cooperation is on the ascendant, and connectivity construction is accelerating.

Asian countries have gradually evolved an Asian mode of cooperation in the course of advancing regional interaction, one that features mutual respect, consensus-building, and accommodating one another’s comfort levels. Asia now owns a third of the global economic aggregate, and is one of the most dynamic areas with huge potential. Its status in the global overall strategy has hence risen. In view of fast-changing international and regional landscapes, President Xi Jinping called on all present to grasp and keep pace with the trends of our times by jointly building a regional order that is more favorable to both Asia and the world. We should through efforts towards such an order promote a community of common interest for all humankind. China has thus presented to the whole world its Asian dream – that of an Asian community of common destiny. 

President Xi specified the path through which to build this community of common destiny, and the principles that must be upheld to achieve it.

 (1) We must ensure that all countries respect and treat one another as equals. Countries may differ in size, strength, and development level, but are all nevertheless equal members of the international community with equal rights to participate in regional and international affairs. In matters that involve us all, we must discuss and look for common solutions. All countries must first and foremost respect one another’s social systems and development paths, core interests, and major concerns, and objectively and rationally perceive other countries’ growing strength, policies, and visions. Efforts must be made to seek common ground while shelving differences, and to increase common interests. All should uphold Asia’s hard-won peace and stability and sound development momentum.

(2) We must seek win-win cooperation and common development, because win-win cooperation is the sole path to significant and sustainable achievements that are beneficial to all. The old zero-sum game mindset must give way to a new win-win, all-win cooperation approach. The interests of others should be accommodated in the course of pursuing one’s own, just as common development should be promoted concurrently with one’s own.

(3) We must pursue common, comprehensive, cooperative and sustainable security. The Cold War mentality must be discarded once and for all and new security concepts nurtured as we explore a path for Asia that ensures our common security.

(4) We must promote inclusiveness and mutual learning among civilizations that are both unique and equal. There should be more exchanges and dialogues among civilizations, and development models that enable each to draw on the strength of others, and all to thrive and prosper. Let us promote inter-civilization exchanges that build bridges of friendship for our people, propel human development, and safeguard world peace.

China’s Role in Building a New Pattern for Asia 

China’s economic development will continue to bring more trade, growth, investment, and cooperation opportunities for other countries in Asia and beyond. China will stick to its basic state policy of opening up, improve its investment climate, and protect the lawful rights and interests of investors. Together, the people of Asian countries can actuate this train of development that will take Asia to an even brighter future.

China will steadfastly pursue the independent foreign policy of peace, the path of peaceful development, the win-win strategy of opening-up, and the approach of upholding justice while pursuing shared interests. China will promote a new type of international relations characterized by win-win cooperation, and remain a staunch advocate of world peace and common development. This is at the root of China’s firm commitment to building friendship and partnership with its neighbors, and so foster an amicable, secure, and prosperous neighborhood. Under the principle of amity, sincerity, mutual benefit, and inclusiveness, China is striving to deepen win-win cooperation and connectivity with its neighbors and to bring them more benefits through its own development.

President Xi Jinping pointed out that the Belt and Road Initiatives, in meeting the development needs of China, of countries along the routes, and of the region at large, will serve the common interests of relevant parties and answer the call of our time for regional and global cooperation. In promoting the initiatives, China will follow the principle of wide consultation, joint contributions, and shared benefits. The Belt and Road Initiatives are not mere rhetoric; they represent real work that will be both seen and felt to bring real benefits to countries in the region.

A New Geopolitical Pattern in Asia 

As to the Asian geopolitical pattern, it seems that the future framework has taken shape.

China will lead Asia in its development. The Belt and Road Initiatives and the Asian Infrastructure Investment Bank (AIIB) were a focus of discussion at the Boao Forum for Asia.

On March 28, the Chinese government released the “Vision and Actions on Jointly Building the Silk Road Economic Belt and 21st-Century Maritime Silk Road.” Running through the continents of Asia, Europe, and Africa, at one end of the Belt and Road routes is the vibrant East Asian Economic Circle, and at the other the developed European Economic Circle. In between are hinterland countries of great economic development potential.

The key purpose of the Silk Road Economic Belt is to connect China with the Baltic region of Europe via Central Asia and Russia; to connect China with the Persian Gulf and the Mediterranean Sea via Central Asia and Western Asia; and to connect China with Southeast Asia, South Asia, and the Indian Ocean. The 21st-Century Maritime Silk Road starts from China’s coastal ports and heads towards the Indian Ocean via the South China Sea, extending to Europe, and from China’s coastal ports to the South Pacific via the South China Sea. The great economic vision of the Belt and Road is to make use of China’s foreign exchange reserves – the world’s largest – and of China’s capability to promote neighboring countries’ infrastructure construction and development. China can meanwhile transfer its excess production capabilities through wider opening, and seek new growth points for economic development. The launch of this strategy will lead Asian countries to common prosperity and development.

The influence of the United States in Asia is declining. The Asian Infrastructure Investment Bank (AIIB) is widely regarded as a rival and counterbalance to the U.S.-led World Bank and the Japan-led Asian Development Bank. The United States has failed in efforts to discourage its European and Asian allies from joining the AIIB, their having applied one after the other, notably South Korea and Australia, to be part of it.  This would appear to endorse China’s rapid rise in the financial market and the decline in the United States’ influence. Even the Financial Times has criticized the United States’ Cold War mindset of believing that China’s growing influence in Asia is bound to harm American interests. The FT holds that such an attitude is contrary to the historical point of view. The United States should recognize the importance of China in Asian development rather than deny its important role. 

Japan will inevitably grow increasingly isolated in Asia. In blindly following American diplomacy the Abe administration has failed to play a main role in Asia. Especially in light of the AIIB issue, Japan has effectively isolated itself by becoming divorced from Asia’s development process. If the AIIB uses Renminbi for settlements, the status and influence of the Japanese yen will inevitably weaken further. Moreover, this year marks the 70th anniversary of the end of WWII, an event the international community will celebrate in various ways. Both China and Russia will hold military parades to arouse their people’s memory of WWII. The Japanese government, however, refuses to face history squarely, and continues to deny its history of aggression and harms to other countries in Asia. This affects its relations with China and South Korea, and will result in its further ostracization within Asia. 

In short, it’s believed that, in decades to come, when people look back on history they will see the 2015 Boao Forum for Asia as a major turning point in the pattern of Asia, and the start of the era when China leads the continent.

LIN MINWANG is an associate professor at the Institute of International Relations of China Foreign Affairs University, a guest researcher at the Chongyang Institute for Financial Studies, Renmin University of China and a researcher at the Collaborative Innovation Center for South China Sea Studies.