Emerging economies not free riders says China
February 4, 2013, 10:35 am

Song Tao, the Chinese vice foreign minister at the Munich Security Conference, Germany. [Xinhua]

“Emerging economies are not free riders,” Song said in a panel discussion at the Munich Security Conference, an annual gathering of diplomats and experts in the southern city of Germany.

It is not just in economics but in seeking solutions to international crises that BRICS have been at the forefront, said Song.

“The number of UN peace-keepers from BRICS countries is five times that from the seven major industrialised countries,” the minister asserted.

“Figures show that emerging economies have contributed to over 50 per cent of global growth over the past five years.

“Without the part played by emerging economies, the world economy, plagued by the international financial crisis and the European debt crisis, could have been in much worse shape,” said Song.

However, Song stressed that emerging economies should shoulder “common but differentiated responsibilities”, as “they are still quite behind developed countries”.

This has been mentioned by the BRICS nations at the World Trade Organization.

“To ask emerging economies to assume the same international responsibilities as developed economies is to ask a passenger who boards a train at Frankfurt to pay the full fare for the journey from London to Munich.

“This is not fair, and it is beyond the capability of emerging economies,” Song said, urging developed countries and emerging economies to be open and inclusive to each other.

The minister told the conference that China will continue the policy of reform and opening, while remaining committed to peace and development and seeking international cooperation.

“The Chinese leaders have called for achieving the great renewal of the Chinese nation, which is China’s dream in this new era. To make this dream come true, we Chinese need to work hard, but we also need the support and help of the world.” he said.

With Inputs from Agencies