China’s quality production capacity has greatly assisted Sri Lanka, and the narrative “China’s overcapacity” is nothing but an act rooted in trade protectionism, contravening principles of fair competition and market economy, international affairs expert and founding director of the Belt and Road Initiative Sri Lanka, Yasiru Ranaraja told Xinhua recently.
Ranaraja said he believes that China’s leading position in the field of new energy vehicles stems from its comparative advantages and aligns with market laws that dictate more efficient global resource allocation.
He said that China’s technological advantage and its capacity to supply the global market have promoted green and sustainable technologies in developing countries, benefitting the global green transition and providing key support to global technological innovation and climate goals.
He said US hype-up of the “China’s overcapacity theory” hinders normal market activities and represents an “ethical wrongdoing by the US Government.”
Ranaraja said that collaboration between Sri Lanka and China in infrastructure has greatly benefited the Sri Lankan people, improving transportation, energy security, healthcare services, agricultural development and economic growth.
He said Sri Lanka looks forward to expanding all-around cooperation with China, as both sides have enjoyed fruitful cooperation in many areas.
Sri Lanka and China could explore ways to enhance cooperation in marine resources, manufacturing, logistics, automation technology, finance and services, he said.
“By focusing on these areas, Sri Lanka and China can deepen their partnership, leading to significant economic growth and development, benefiting both nations and contributing to regional stability and prosperity,” Ranaraja said. – Xinhua
