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tuesday9novemberXX
pm’sspeechatbeidauniversity,china
atranscriptofspeechgivenbytheprimeministeratthebeidauniversityinchinaon9novemberXX.
readthetranscipt:
[checkagainstdelivery]
introduction
twentyfiveyearsagoicametohongkongasastudent.
theyearwas1985.
dengxiaopingandmargaretthatcherhadrecentlysignedthehistoricjointdeclaration.
theremarkablestoryofthesuccessfulhandoverofhongkong
andthegreatprogresshongkonghascontinuedtomake
isanexampletotheworldofwhatcanbeachievedwhentwocountriescooperateinconfidenceandwithmutualrespect.
sincethen,chinahaschangedalmostbeyondrecognition.
china’snationalanthemfamouslycallsonthepeopleofchinatostandup
qilaiqilai(standup,standup)
todaythechinesepeoplearenotjuststandingupintheirowncountry
theyarestandingupintheworld.
nolongercanpeopletalkabouttheglobaley
withoutincludingthecountrythathasgrownonaveragetenpercentayearforthreedecades.
nolongercanwetalkabouttrade…
withoutthecountrythatisnowtheworld’slargestexporterandthirdlargestimporter
andnolongercanwedebateenergysecurityorclimatechange
withoutthecountrythatisoneoftheworld’sbiggestconsumerofenergy.
chinaisoncoursetoreclaim,laterthiscentury,itspositionastheworld’sbiggestey
thepositionithasheldfor18ofthelast20centuries.
andanachievementofwhichthechinesepeoplearejustlyproud.
putsimply:
chinahasre-emergedasagreatglobalpower.
threatoropportunity
nowpeoplecanreacttothisinoneoftwoways.
theycanseechina’sriseasathreat
ortheycanseeitasanopportunity.
theycanprotecttheirmarketsfromchina
oropentheirmarketstochina.
theycantryandshutchinaout
orwelcomechinain,toanewplaceatthetoptableofglobalaffairs.
therehasbeenachangeofgovernmentinbritainandachangeofprimeminister.
butonthisvitalpointthereisabsolutecontinuitybetweenmygovernmentandthegovernmentsoftonyblairandgordonbrown.
wewantastrongrelationshipwithchina.strongontrade.strongoninvestment.strongondialogue.
imadethatclearasleaderoftheoppositionwhenivisitedbeijingandchongqingthreeyearsago.
andirepeatitasprimeministerhereinchina’scapitaltoday.
intheargumentabouthowtoreacttotheriseofchina.
isayit’sanopportunity.
ichooseengagementnotdisengagement.
dialoguenotstand-off.
mutualbenefit,notzero-sumgame.
partnershipnotprotectionism.
britainisthecountrythatarguesmostpassionatelyforglobalisationandfreetrade.
freetradeisinourdna.
andwewanttradewithchina.asmuchofitaswecanget.
that’swhyihavewithmeonthisvisitoneofthebiggestandmosthigh-powereddelegationsabritishprimeministerhaseverledtochina.
justthinkaboutsomeoftheprizesthattheriseofchinacouldhelptobringwithinourgrasp.
strong,andsustainablegrowthfortheglobaley.
vitalprogressonthedohatraderoundwhichcouldadd$170billiontotheglobaley.
arealchancetogetbackontracktowardsalegallybindingdealonemissions
unprecedentedprogressintacklingpoverty.
chinahaslifted500millionpeopleoutofpovertyinjustthirtyyears.
althoughthereisstillalongwaytogo–that’smorepeopleliftedoutofpovertythanatanytimeinhumanhistory.
youcanseetheresultsrightacrossthisenormouscountry.
wheniworkedinhongkongbrieflyin1985,shenzhenwasbarelymorethanasmalltown,surroundedbypaddyfieldsandwaterways.
todayitisacitylargerthanlondon.itmakesmostoftheworld’sipodsandoneintenofitsmobilephones.
andthereareotherbenefitstoointacklingtheworld’smostintractableproblems.
iwelcomethefact,forexample,thatmorethan900chinesedoctorsnowworkinafricancountriesandthatinugandaitisachinesepharmaceuticalfirmthatisintroducinganewanti-malarialdrug.
soiwanttomakethepositivecase
fortheworldtoseechina’sriseasanopportunitynotathreat.
butchinaneedstohelpustomakethatargument
todemonstratethatasyoureygrows,sodooursharedinterests,andoursharedresponsibilities.
weshareaninterestinchina’sintegrationintotheworldey,whichisessentialforchina’sdevelopment.
ifwearetomaintaineurope’sopennesstochina,wemustbeabletoshowthatchinaisopentoeurope.
soweshareaninterestinaninternationalsystemgovernedbyrulesandnorms.
weshareaninterestineffectivecooperativegovernance,includingfortheworldey.
weshareaninterestinfightingprotectionism
andinaco-ordinatedrebalancingbetweensurplusanddeficitcountries.
theseinterests,thoseresponsibilitiesarebotheicandpolitical.
letmetakeeachinturn.
eicresponsibilities
first,eicresponsibilities.
let’sgetstraighttothepoint.
theworldeyhasbeguntogrowagainafterthecrisis.
butthatgrowthisveryuneven.
ledbychina,asiaandotheremergingmarketsaregrowingquickly.
butinmuchoftheadvancedworldgrowthisslowandfragileandunemploymentstubbornlyhigh.
weshouldnotbesurprisedatthis.
thecrisishasdamagedmanyadvancedeiesandweakenedtheirfinancialsectors.
theyfacemajorstructuralandfiscaladjustmentstorebalancetheireies.
thisistrueofmyowncountry.
weknowwhatstepsweneedtotaketorestorethepublicfinancesandrebalanceoureytowardsgreatersavingandinvestmentandgreaterexports.
andwehavebeguntotakethem.
butfortheworldeytobeabletogrowstronglyagain–andtogrowwithoutcreatingthedangerouseicandfinancialinstabilitiesthatledtothecrisis,weneedmorethanjustadjustmentintheadvancedworld.
thetruthisthatsomecountrieswithcurrentatsurpluseshavebeensavingtoomuch
whileotherslikeminewithdeficitshavebeensavingtoolittle.
andtheresulthasbeenadangeroustidalwaveofmoneygoingfromonesideoftheglobetotheother.
weneedamorebalancedpatternofglobaldemandandsupply,amorebalancedpatternofglobalsavingandinvestment.
nowsometimeswhenyouhearpeopletalkabouteicimbalances,itcanseemasthoughcountriesthataresuccessfulatexportingarebeingblamedfortheirsuccess.
that’sabsolutelynotthecase.
weallshareaninterestandaresponsibilitytoco-operatetosecurestrongandbalancedglobalgrowth.
thereisnogreaterillustrationofthisthanwhathappenedtochinaasthewesternbankingsystemcollapsed.
chineseexportsfell12percent
growthdroppedtoitslowestpointinmorethanadecade
andsome20millionjobswerelostinthechineseexportsector.
changesinthestructureofoureieswilltaketime.
whatisimportantisthatthemajoreiesoftheworldhaveasharedvisionofthepathofthischange:
whatactionscountriesshouldavoid;whatactionscountriesneedtotakeand,crucially,overwhatperioditshouldhappen.
thisiswhytheg20–andthemeetinginseoul–issoimportant.
togetherwecanagreeaapproach.
wecancommittothenecessaryactions.
wecanagreethatwewillholdeachothertoat.
andjustaschinaplayedaleadingroleattheg20inhelpingtoavertaglobaldepression
soitcanleadnow.
iknowfrommydiscussionswithpremierwenhowcommittedchinaistoactionstorebalanceitsey.
chinaisalreadytalkingaboutmovingtowardsincreaseddomesticconsumption
betterhealthcareandwelfare
moreconsumergoodsasitsmiddleclassgrows
andintimeintroducinggreatermarketflexibilityintoitsexchangerate.
thiscannotbecompletedovernight
butitmusthappen.
let’sbeclearabouttherisksifitdoesnot
aboutwhatisatstakeforchinaandfortheuk–countriesthatdependonanopenglobaley.
attheworstpointofthecrisis,weavertedprotectionism.
butatatimeofslowgrowthandhighunemploymentinmanycountriesthosepressureswillriseagain
alreadyyoucanseethem.
countrieswillincreasinglybetemptedtotrytomaximisetheirowngrowthandtheirownemployment,attheexpenseofothers.
globalisation–theforcethathasbeensopowerfulindrivingdevelopmentandbringinghugenumbersintotheworldeycouldgointoreverse.
ifwefollowthatpathwewillallloseout.
thewestwouldloseforsure.butsotoowouldchina.
forthelasttwodecades,tradehasbeenaverypositivefactorinchina’sre-emergenceontheworldstage.
ithasdrivenamazinggrowth
andraisedthelivingstandardsofmillions.
tradehashelpedstitchbackchina’snetworkofrelationswithcountriesacrosstheworld.
weneedtomakesurethatitdoesnotturnintoanegativefactor.
justasthewestwantsgreateraccesstochinesemarkets
sochinawantsgreateraccesstowesternmarkets
anditwantsmarketeystatusintheeutoo.
ihadveryconstructivetalkswithpremierwenonexactlythisissueyesterday.
iwillmakethecaseforchinatogetmarketeystatu