Chinese economist calls for balance between development, security in US rivalry

Zhang Ming of the Chinese Academy of Social Sciences calls excessive focus on security over development a ‘trap’ worth avoiding

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Chinese economist Zhang Ming, right, has warned against letting security outweigh development as Beijing plans for the future of its relationship with the US under the second term of Donald Trump. Photo: Elson Li

Published: 6:00pm, 20 Nov 2024

In the heated rivalry between the United States and China – a rivalry that appears destined to intensify under a second Donald Trump administration – Beijing should not downplay development in the interest of security, a prominent economist warned, because “there is no security without development”.

Zhang Ming, deputy director of the Chinese Academy of Social Sciences’ Institute of Finance and Banking, gave closing remarks at the annual meeting of the China Society of World Economics on Sunday, saying China should avoid the “trap” of “pan-security” thinking.

“Whenever we focus on development, the American government will intentionally create geopolitical tension, which induces us to shift our attention from development to security,” he said.

“For a big developing country like China, development provides the greatest security. It is a matter of utmost importance to maintain a positive balance between high-quality development and high-level security.”

US president-elect Donald Trump’s choices for top cabinet posts suggest a tough China policy is in store over his second White House term, with notable hawks like Florida senator Marco Rubio and retired Army National Guard officer Michael Waltz named to take the roles of secretary of state and national security adviser, respectively.

However, Zhang cautioned against a “false dichotomy” when evaluating the geopolitical landscape, as not every developed country has plans to suppress China.