Booming China offers a liberal message for global economies

By FRAN O'SULLIVAN in Shanghai

Freeing global trade in the face of terrorism is the key to world economic growth - that is the strong message from this year's Apec chief executives' summit.

Chinese President Jiang Zemin said the World Trade Organisation (WTO), Apec and Governments needed to give "full regard" to the interests of "vulnerable" economies while pushing forward economic globalisation and trade liberalisation.

Chinese Vice-Premier Qian Qichen said business leaders should pool their wisdom and efforts to face the challenges posed by the slowdown of global economic growth resulting from the terrorist attack on the United States.

US President George W. Bush wants Apec's political leaders to give him a mandate to increase support for the US-led war against terrorism.

But China's leaders have not been deflected from showcasing their economy as it prepares for accession to the WTO. China is into its tenth "five-year programme" and plans to double its GDP by 2010.

Flying into Shanghai it was hard to believe this city is one of the world's greatest economic engines with double-digit growth.

From the air it looks dead: major arterial routes are shut, its citizens sent off for a five-day holiday as businesses, factories and the 24-hour-a-day construction industry closed to ensure a security cordon is maintained to protect Asia-Pacific leaders and global chief executives.

More police patrol the Pudong district where the CEOs' summit is taking place than summiteers.

But the ability to stride around Pudong and soak in its splendid new architecture - unmolested by the usual streams of Shanghai's citizens - is a hidden bonus.

The sky is wonderfully blue - smog levels are low with no traffic and little factory emissions.

Shanghai is extraordinarily quiet. Airspace over the city has been closed as Chinese military jets constantly patrol its perimeter.

But some things don't change. Business people wanting to get across the city to attend a late-night reception at the Shanghai Museum had to wait for nearly two hours until President Jiang's motorcade left the Pudong Shangri-La, where he had addressed their early evening banquet.

Still, there were compensations. Many retired to the nearby Grand Hyatt, the world's highest hotel. On the 56th floor is a piano bar with a huge internal atrium rising more than 30 floors to its crystal apex - it doesn't get much better.

But business is also being done. Microsoft's Bill Gates signed a deal with Shanghai Mayor Xu Kuangdi to develop the local software industry and fight software piracy. Sponsors promote their own benefits to China's development.

Full coverage: Apec 2001

Apec China 2001 official site