The Boao Forum for Asia Annual Conference is being held from March 25 to 28, 2025 in South China's Hainan Province. Photo: Liu Yang/GT
Zafar Uddin Mahmood, policy advisor to the secretary general of the Boao Forum for Asia (BFA), told the Global Times on Tuesday that sweeping US tariffs against its trading partners will backfire on its own economy and ordinary US consumers, and cannot be maintained over the long term.
In an interview with the Global Times on the sidelines of the BFA Annual Conference in Boao, South China's Hainan Province, Mahmood also praised China's commitment to widening its opening-up policies, and said that China's steady economic development will serve as a key driver for global growth.
The annual conference, which is being held from Tuesday to Friday in Boao, carries the theme "Asia in the changing World: Towards a shared Future," and will focus on development, foster dialogue, explore innovative formats and prioritize tangible outcomes - all aimed at advancing international cooperation and progress.
"While the recent US tariff hikes are significantly impacting global trade, I believe that China stands well-prepared and will introduce responsive measures in the near future," Mahmood said in the interview on Tuesday.
He further noted that such a protectionist stance won't be sustainable for the US, as the policies "create negative consequences not just for its trading partners, but for the US itself." The tariffs will create hardships for ordinary Americans, making it unlikely that such measures can be maintained in the long term, Mahmood emphasized.
Speaking of China's economic outlook, Mahmood pointed out that China's stable economic growth and technological innovation capabilities are injecting fresh vitality and confidence into regional and global economic development.
"China's technology plays a leading role in Asia," he noted, adding that the country's innovation hubs, including the Guangdong-Hong Kong-Macao Greater Bay Area, are driving transformative changes in the global tech landscape, with "more groundbreaking achievements to be expected."
Expressing optimism about China's economic prospects, Mahmood said, "I have full confidence in China's ability to maintain steady growth, and this stability will provide greater certainty for the world economy."
Mahmood noted that he was particularly attentive to relevant statements from the China Development Forum 2025, which was held in Beijing from Sunday to Monday, saying the positive signals from the forum were "highly enlightening."
Mahmood highlighted four key policy directions outlined by China: First, the country's opening-up policy "will not change - in fact, it will expand further and improve in quality;" Second, the government will stimulate domestic demand through increased fiscal spending; Third, more favorable policies will be introduced to attract foreign investment; Fourth, China will scale up its outbound investment.
"The combination of these four factors shows that China will continue to thrive and serve as an engine for global economic growth," Mahmood said, adding that China's stable economic expansion would not only benefit Asia but also have far-reaching positive impacts on the world economy.
Global Times
