game changer

China, devt
game changer
China is on the verge of becoming the largest
economy in the world

From page 1

taklng het malk Speaker cloria MacapagaFArroyo attends the

Boao Forum forAsiawhete she is a board member.The annualforum seeks
region,
cboperation lor a strong economic development in the AFp Asian Ieaders had.fnluable .; of ,BFA which is a conference
"$ discussions with Li ' that gathers g overn m ent
llarianeel BordeJ own model of developrnent about the ilirection of leaders, business and academic
.,1', using your own historical China on its 40th year of institutions from different parts
." China has broken the m)'th experience,' Speaker Gloda ieforms and diplomatic of Asia to exchange ideas on
'] .!hat the Western model is ihe . .!{acapagal-Arroyo said. relationships. pressing issues in the region.
riQltly manual for economic China's consistent strong At the same forum, she said
igrowth as its spectacular grotth proved that there are : "China has giyen us the lesson the erstwhil€ sleeping giant has
:,gNiibal rise nshowed the more paths to development ihat ihere is just not one path proven to be a partner of its
world that you can have your fan b pagc 2 for developmtint because prior neighbors and not a threat.
io China's experience, it was
ihought that the only way to Class of its own
develop was the Western style uYou lcrow,
when China was
model of Jeffersonian democracy beginning to develop, about six
and coupled with a free market." years into its transformation, I
she said. was Unde$ecretary of Trade and
I -Arroyo recalled the reopening Industry and we were looking
of China's market 40 years ago, at this economic dragon that
referring - it as the ,'world's was rising in Asia and we were
ct' leading grofith" nation which wonderiirg when China would
(.1 was unmatched thoughoui the become a cornpetitor in the
J history.
e. world,' Anoyo said.
o- She cited about 400 million "Litile did we know that
Chinese lifted from poverty as China is a class of iis own
e
d
the couftry's economy developed.
'China is on the verge of
and now,40 years later under
z the presideney of Xi Jinping,
o becoming the largest economy in
ghe world," Arroyo emphasized.
it has become a paftner in
development, China, for us in the
developing countries, is a market,
=
ttl .It has given us the lesson a donor and a provitler of capita.l
4
= ,that there is just not one and technotogy" she added..
4
path for development.
=
c million
She cited about 400
d The former Chief Executive Chinese lifted from poverty
z, also said Asian leaders had as the countryts economy
valuable discussions with Li developed.
= about thp direction of China
on iis 40th year of reforms and Th€ former President has
,diplomatic relationships with pointed out that through ih€
other countries. continuous development of

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