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While the sudden outbreak of the COVID-19 epidemic brought an unprecedented impact on China's economic and social development, it has also revealed the country's resilience and will act as an opportunity to revitalize its economic sectors, a Romanian expert said.
In a recent interview with Xinhua, Liviu Muresan, the founder and executive president of the Bucharest-based think tank EURISC Foundation, praised China's unique strategy to contain the epidemic and its recent shift in focus from anti-epidemic to economic recovery.
"Under the current circumstances, China should not be afraid to deviate from the model of global factory," and should strengthen its leading position in research, development and innovation, said Muresan, whose think tank has conducted exchanges and cooperation for 25 years with Chinese research institutes in Beijing and Shanghai.
The expert emphasized the crucial importance of private research and development, saying "China should vigorously develop its private RD economic sector, as it has the ability to mobilize human and financial resources much better than the public sector."
Education should also be the focus. For China, it is vital to have Chinese students well trained both in China and abroad, as well as to have even more foreign students come to China to study, according to Muresan.
However, he stressed that China should stand ready to respond to new global realities after the pandemic, "because we cannot be sure how countries will continue the regionalist and globalization trends."
He admitted that the Chinese economy will shrink and some countries will no longer be able or willing to consume Chinese products, but he knows China can turn bad luck into opportunity.
Many countries will still turn to China for business. Its role will not decrease, but will change according to the new developments, and China needs to understand its new role, he said.
