Christine Legarde remarks at the China Development Forum,Beijing, March 23,2014.
"China is about to embark on the next phase of its remarkable journey, a journey that has propelled it to the top tier of the global economy and lifted hundreds of millions of people out of poverty in a remarkably short period of time.
This new transformation will come with three key dimensions—a firm destination, a clear roadmap, and a deep sense of global responsibility. What do I mean by this?
• First, a firm destination. After showing great economic leadership, especially during the recent global financial crisis, China has its eyes fixed firmly on its next destination—aiming forhigher quality, more inclusive, and more sustainable growth.
• Second, a clear roadmap. Here, I am referring to the Third Plenum Reform Blueprint, which outlines the reforms needed to reach this destination. These reforms are ambitious. They will require hard decisions and tradeoffs, but I am confident that China will rise to the challenge—as it has always done.
• Third, deeper global responsibility. As China’s share in the global economy continues to rise, so will its responsibility in supporting the global common good—global financial stability, environmental sustainability, and the global rules of the game. The IMF will be a key forum for this kind of global cooperation, and I welcome a strengthened partnership with China.
I firmly believe that this reform program will secure the "Chinese dream" for the next generation, and in doing so, will benefit theentire global economy. I look forward to fruitful discussions surrounding this next great transformation and China’s continuedglobal economic leadership".
