Opinion | Boao Forum highlights Asia as the key driver of "re-globalization"

The Boao Forum for Asia Annual Conference 2025 released an annual report on Asia's economic outlook and integration process on March 25, noting that Asia will continue to serve as the primary engine of global economic growth. The report forecasts that Asia's economic growth rate will reach 4.5% in 2025, with its share of the global economy rising to 48.6% in purchasing power parity (PPP) terms. 

Professor Lan Qingxin, the BRICS Research Center Director from the University of International Business and Economics, stressed that the report underscores Asia's pivotal role in driving "re-globalization." In an interview with China Youth Daily, he explained that this transformation involves a shift from "border openness" to "intra-border regulatory integration," as well as accelerating the development of digital trade rules and dispute settlement mechanisms. These efforts aim to consolidate Asia's position as a central force in the process of "re-globalization".

Lan further highlighted that Asia's economic prosperity is based on inclusive growth rather than zero-sum competition. He explained that the Regional Comprehensive Economic Partnership (RCEP) has significantly reduced regional trade costs for small and medium-sized enterprises (SMEs) through measures such as tariff reductions, cumulative rules of origin, and service trade liberalization, thereby optimizing supply chains. Additionally, the single-window system of free trade ports improves trade efficiency by streamlining customs clearance procedures, coordinating data and integrating financial services. With the introduction of digital certificates of origin, enterprises can apply for documents through the blockchain platform with a single click, further promoting investment and trade convenience.

As the host of the world's largest market and most dynamic economies, Asia remains a key driver of global economic growth and a cornerstone of globalization. Lan stressed that accelerating the establishment of digital trade rules and dispute resolution frameworks will provide sustained momentum for regional economic cooperation in Asia. (By Jia Xiaojing/China Youth Daily)