Liang Haiming, chief economist at the China Silk Road iValley Research Institute / CHINA DAILY

Despite the recovering US economy, Washington under the watch of US President Donald Trump is poised to accord priority to economic issues at home, rather than abroad. That, to some extent, means Beijing is required to propose a plan to address the economic woes haunting many other countries.

The implementation of the Belt and Road Initiative is a boon to sluggish global growth. It is conducive to expanding global demand and revitalizing global growth, marking a breakthrough in both China's interaction with other economies and global economic governance.

In particular, China's proposal to explore third-party market cooperation could bring benefits to Western nations and developing countries along the Belt and Road, without causing a clash of interests. Projects involving China, France and some French-speaking African countries are a case in point.

For emerging economies, the initiative means more investment and bilateral trade deals, which may grant them greater economic sway. For countries that are less industrialized and heavily reliant on manufacturing, China's financial and technological assistance following its Belt and Road projects will be of great value.