China has contributed much to the development of the world economy in recent years while many national economies have been decelerating under the impact of globalization, President of the Romanian Senate Nicolae Vacaroiu said Friday.
"Economic globalization is a general trend of our days and has created more challenges than opportunities for every country in the world," Vacaroiu said in a speech on globalization at Andrei Saguna University in Constanta, Romania's largest seaport.
According to Vacaroiu, many countries, challenged by globalization, have had to slow down the growth rate of their economies, but the world economy as a whole has kept on growing.
"The main reason is that newly emerging countries are in vigorous development, with China as a key locomotive for the world growth," he said.
China has registered the longest period of continuous economic development, because the country and its people have blazed a trail suited to national conditions, said Vacaroiu, adding that China's experience in development has been followed with interest and appreciated by global economic circles.
Romania could draw on China's experiences in this regard, he said.
Source: Xinhua
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