THE eighth China International Import Expo, which opened in Shanghai this week, is more than a trade fair. It is a mirror held up to the global economy, reflecting both the resilience of international commerce and the shifting dynamics of globalisation. With 155 countries, regions, and international organizations participating, and over 4,100 overseas enterprises exhibiting across a record-breaking 430,000 square meters, the event underscores China鈥檚 continued role as a central node in the global trading system.
The timing is significant. Much of the western discourse around China in recent years has revolved around 鈥榙e-risking鈥� and 鈥榙ecoupling.鈥� These terms, often vague and politically charged, suggest a retreat from economic interdependence. Yet the turnout at the expo tells a different story. Countries from every continent, including many from the Global South, are not only engaging with China but actively seeking deeper economic ties. Pakistan, for instance, has sent 20 companies to showcase textiles, marble, brassware and other goods, hoping to expand its footprint in the Chinese market.
This is not just about trade. It is about the architecture of globalisation in a world that is increasingly multipolar. China鈥檚 approach to opening up - lowering tariffs, expanding free trade agreements and offering zero-tariff access to least developed countries and 53 African nations - signals a deliberate effort to shape a more inclusive global economy. These measures are not merely symbolic. They have real impact. In 2024, China鈥檚 goods imports reached 18.4 trillion yuan, and service imports hit 4.3 trillion yuan, both up more than 60 per cent from a decade ago.
The numbers are impressive, but the underlying strategy is more telling. China is positioning itself not just as a manufacturing powerhouse or export juggernaut, but as a vast and stable consumer market. This shift matters. For years, the narrative around China鈥檚 rise focused on its ability to produce cheaply and at scale. Now, the emphasis is on its capacity to absorb global goods and services, offering growth opportunities to countries that might otherwise be sidelined in a fragmented global economy.
The launch of the 鈥楽haring a Large Market, Exporting to China鈥� brand at this year鈥檚 expo captures this pivot. It is a message to the world: China is open for business, and not just on its own terms. The expo, which has facilitated over $500 billion in cumulative transactions since its inception in 2018, is becoming a kind of international public good. It offers a platform for small and medium enterprises, developing countries, and niche industries to access one of the world鈥檚 most dynamic markets.
Of course, none of this unfolds in a vacuum. The global economy is still grappling with the aftershocks of the pandemic, supply chain disruptions and geopolitical tensions. The United States, under president Trump, continues to pursue a more transactional approach to trade, often framed in terms of national security. The European Union is navigating its own internal divisions while trying to maintain strategic autonomy. In this context, China鈥檚 steady expansion of trade partnerships - now numbering 30 - and its commitment to multilateralism stand out.
There is a pragmatic logic to this. China鈥檚 domestic economy is undergoing a transition, with slower growth in some sectors and a push toward innovation and consumption-led expansion. Opening up its market is not just a diplomatic gesture; it is an economic necessity. But it is also a strategic choice. By deepening ties with countries across Asia, Africa, Latin America and beyond, China is building a network of economic relationships that can buffer against external shocks and political headwinds.
The participation of countries like Bangladesh illustrates how this strategy plays out on the ground. For Pakistan, access to the Chinese market offers a lifeline amid economic challenges. The expo provides a venue to showcase its industrial and cultural strengths, from textiles to handicrafts, in a setting that values diversity and innovation. This is not charity. It is commerce, but commerce with a geopolitical edge. As China strengthens its role as a buyer, not just a seller, it reshapes the incentives for global engagement.
Critics will argue that trade with China comes with strings attached. Concerns about market access, intellectual property, and regulatory transparency persist. But these are not unique to China. They are part of the broader negotiation that defines global trade. What matters is that China is offering a platform and many countries are choosing to participate. That choice speaks volumes.
The expo also reflects a broader truth about globalisation. It is not dead. It is evolving. The old model - dominated by Western institutions and norms - is giving way to a more pluralistic system. China鈥檚 role in this transition is both contested and consequential. By hosting events like the expo and backing them with concrete policy measures, China is not just talking about openness. It is institutionalising it.
This does not mean the road ahead is smooth. Trade tensions, political rivalries, and economic uncertainties will continue to shape the global landscape. But the expo offers a glimpse of what a more balanced and inclusive globalisation might look like. It is a reminder that interdependence, while messy, remains a powerful force.
The success of the expo is not measured only in square meters or transaction volumes. It is measured in the willingness of countries to show up, engage and invest in a shared future. That future may not look like the one imagined in the early 2000s, but it is being built nonetheless. And for now, China鈥檚 open door remains one of its most compelling invitations.
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Dr Imran Khalid is a freelance contributor from Karachi.
