2024 marks the 60th anniversary of diplomatic ties between China and France. At the invitation of French President Emmanuel Macron, Chinese President Xi Jinping launched a state visit to France from May 5 to May 7.
"It was great that the France be the first country visited by Chinese president," said Professor Philippe Aghion, a prestigious economic professor at the Collège de France and INSEAD.
In an exclusive interview with GDToday, he noted that France recognizes the importance of developing links with China.
In his opinion, the two countries can collaborate on the domains of trade and artificial intelligence, and he has high expectations for China's innovation as it represents one of the new quality productive forces.
China and France can cooperate on issues of trade and AI
Prof. Aghion proposed two fields for collaboration between two countries, namely trade and artificial intelligence. He made the suggestions as follows: free trade enhances competition, competition enhances innovation, and AI is a true revolution.
He elaborated that free trade will increase opportunities for innovation in both countries, given a well-organized WTO. "For all the countries that are part of the WTO, they have better outlets for their products. So they have bigger opportunities for innovation," Prof. Aghion added. In addition, trade facilitates knowledge transfers, which are factors of innovation-led growth.
Given a joint statement on artificial intelligence (AI) governance issued by two heads of states on Tuesday, the two countries pledge to work together to promote the responsible development and use of AI for the benefit of all.
"AI has significant growth potential," Prof. Aghion noted. In this regard, China and France can collaborate in two ways. AI requires computing power as well as good data and data sharing.
China and France can work together to develop computing power and implement good applications of AI, as AI has the potential to drive significant growth and create new employment opportunities, he added.
It is in the world’s interest that China keeps innovating
Prof. Aghion, known for expanding upon Joseph Schumpeter's theory of creative destruction, praised China's significant innovation potential. He emphasized the pivotal roles of competition and academic freedom in fostering innovation.
China implements proactive research policies, such as programs to attract back Chinese researchers who studied and worked abroad and measures to boost R&D and basic research. Therefore, the country has the potential to produce substantial fundamental innovations.
Reporter | Clonde
Video | Jimmy
Poster | Mia
Editor | Steven, James
