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Rizal Sukma, a senior fellow at Indonesia’s prominent think tank, the Centre for Strategic and International Studies (CSIS), recently underscored the pivotal role of China’s economy in fostering prosperity and growth across the Asia-Pacific region.
Sukma highlighted that China’s robust economic growth and integration into global markets have been instrumental in driving the economic development of neighbouring countries. He pointed out that China’s massive consumer market, industrial capacity, and investment flows are crucial to the economic strategies of many Asia-Pacific nations. “China’s economic stability and growth are not just beneficial but necessary for the prosperity of the entire region,” Sukma stated in a recent interview.
China’s role as a major economic hub has had substantial spillover effects on the region. The country’s substantial demand for goods and services has provided a significant market for exports from countries like Indonesia, Malaysia, and Thailand, thereby fueling their economic growth. Additionally, China’s investments in infrastructure and development projects, particularly under the Belt and Road Initiative (BRI), have enhanced connectivity and economic integration in the region.
Sukma also expressed confidence in China’s ability to navigate current economic challenges, including the global economic slowdown and rising geopolitical tensions. He noted that China’s proactive policy measures, such as investing in new technologies, promoting sustainable development, and enhancing trade partnerships, position it well to overcome these hurdles. “China’s economic resilience and adaptability are key to its continued growth and the stability of the region’s economy,” he added.
Moreover, Sukma emphasised that China’s economic engagement is crucial for addressing broader regional issues, such as poverty reduction and sustainable development. By promoting inclusive growth and providing development aid, China has played a significant role in improving living standards and reducing economic disparities in the Asia-Pacific region. China’s commitment to green development and climate change mitigation further aligns with regional goals for sustainable development.