Zhao Zhongxiu (center), UIBE president, and other guests launch the fourth Global Value Chain Development Report on Thursday in Beijing, as part of a forum. ZHANG YUJUN/FOR CHINA DAILY

（By LIU ZHIHUA and OUYANG SHIJIA | China Daily | Updated: 2023-11-17 ）Despite some reorganization of supply chains, international trade remains key to ensuring the global economy becomes more resilient, inclusive and sustainable, experts and economists said at a forum in Beijing on Thursday.

China has been playing a stellar role in safeguarding the multilateral trading system. Closer cooperation between the US, the world's largest economy, and China, the second-largest economy, therefore, can help stabilize global industrial and supply chains, they said at the forum, which was organized both offline and online by the University of International Business and Economics or UIBE.

With a focus on value chains, the forum took stock of the latest developments in the global economy.

Ngozi Okonjo-Iweala, director-general of the World Trade Organization, said via video that the narrative that "global integration has gone too far, and needs to be rolled back for the sake of economic security, social inclusion and environmental sustainability" is "wrong".

"It's clear that some reorganization of supply chains will happen, with some reshoring and nearshoring," she said.

"But trying to make everything at home, or among a narrow circle of friends, would not just cost countries the efficiency and income gains brought about by international trade, it would increase their vulnerability to localized shocks, whether from extreme weather, public health crises or other unforeseen events."

Zhao Zhongxiu, president of the UIBE, said as manufacturing giants and global economic powerhouses, both China and the US should strengthen cooperation to promote and enhance the multilateral trading system and the global economy.

"China-US economic and trade relations are the ballast of bilateral relations, and trade structures of China and the US are very complementary," Zhao said, adding the past few years have proved that additional tariffs have increased trade costs for both China and the US, with the latter getting hurt more and other countries also reeling from their impact.

Speaking exclusively with China Daily on the forum sidelines, experts observed that China has played a significant role in promoting trade liberalization and global economic integration, and has become irreplaceable in maintaining global economic stability during crises.

Robert Koopman, former chief economist and director of the Economic Research and Statistics Division of the WTO, said China is a very active and very positive force in the multilateral trading system, and has significantly moved up the value chains.

The forum saw the release of the fourth Global Value Chain Development Report, published by the UIBE's Research Institute for Global Value Chains in collaboration with the WTO, the Asian Development Bank and the Institute of Developing Economies-Japan External Trade Organization.

The report is based on 37 background papers from more than 60 authors by more than 30 research institutions in 20 economies. Its underlying theme is resilient and sustainable global value chains in turbulent times.

原文链接：https://www.chinadaily.com.cn/a/202311/17/WS6556baaea31090682a5eea4f.html