Interview: China's open policies benefit global trade, says Egyptian economist

"The world trade future is associated with the Chinese economic activities and the Chinese imports are basic elements in backing other countries' economies."

CAIRO, June 19 (Xinhua) -- China's open policies have promoted fair trade relations with other countries in a way that helps to share interests, an Egyptian economist has said.

"International openness and free trade are stimulating factors for global economic growth. This approach is reflected positively on all partners," Waleed Gaballah, a member of the Egyptian Association for Political Economy, Statistics and Legislation, told Xinhua in a recent interview.

China has a strong resilience to work with the international community to jointly oppose all forms of unilateralism and protectionism, he said, adding that amid an open, just trade order, every country will have an economic role in achieving benefits.

The U.S. punitive trade measures triggered financial market volatility domestically and abroad, fueling inflation burdens, raising the risk of economic recession at the international level, Gaballah said.

Noting the vast potential of the mega Chinese market, the economist said Egyptian companies have opportunities to expand their presence in China, in fields like agricultural products.

Egypt could benefit from the participation in the Belt and Road Initiative and the BRICS group, both encouraging inter-trade relations among their members, he added.

China has a big influence on the international economy in general since it is the world's first exporter and the world's second importer, Gaballah said.

"The world trade future is associated with the Chinese economic activities and the Chinese imports are basic elements in backing other countries' economies," he added. ■