By Christine Lagarde, IMF Managing Director
China International Import Expo, Shanghai
Last night, when I was coming into town from Pudong Airport, I crossed the beautiful Huangpu River on the Lupu Bridge. This reminded me of China’s talent in making bridges and made me think of three other important bridges.
", "authors": [ "Christine Lagarde" ], "publishDate": "2018-11-05", "sections": [ { "heading": "Bridge number one — “bridge to the world”", "content": "- China began building this bridge 40 years ago by opening its economy and initiating reforms that transformed the lives and prospects of hundreds of millions of people.\n- China's integration through trade, hard work, and learning from others has contributed significantly to global productivity, innovation, and living standards.\n- Policy emphasis:\n - Further increase openness in China’s domestic market to strengthen the global trade system.\n - Continue reforms to unlock the full potential of private-sector firms.\n- Key observation:\n - Avoid “traffic jams” on these bridges — i.e., prevent barriers that hinder openness and market access." }, { "heading": "Bridge number two — “bridge to prosperity” (rebalancing toward consumption)", "content": "- China is rebalancing toward consumption-led growth rather than export- and investment-led growth.\n- Evidence of progress:\n - In the first three quarters of this year, consumption contributed 78 percent to China’s GDP growth, up from 50 percent only 5 years ago.\n - China’s current account surplus is projected to be less than 1 percent of GDP this year, compared with about 10 percent in 2007.\n- Benefits:\n - Higher standards of living for the Chinese people.\n - Expanded opportunities for foreign exporters and service providers as China becomes a more vibrant market.\n- Policy emphasis:\n - Support the ongoing transition to consumption-led growth to sustain domestic prosperity and global market demand." }, { "heading": "Bridge number three — “bridge to the future” (international cooperation and trade)", "content": "- China is harnessing international cooperation, especially on trade, to build a bridge to the future.\n- The IMF calls on all countries to:\n - De-escalate and resolve current trade disputes.\n - Fix the global trade system rather than destroy it.\n- Broader point:\n - More international cooperation is needed across and beyond economics to achieve stable, prosperous global outcomes.\n- Philosophical note:\n - Montesquieu quoted to emphasize trade’s role in fostering good citizenship, prosperity, and peace." }, { "heading": "Closing appeal and symbolic context", "content": "- The speech uses Shanghai — “the city of 12 bridges” — as a symbol and a call to work together to build bridges to peace and a prosperous future.\n- Closing words: “Thank you. Xièxiè.”\n\nChristine Lagarde, IMF Managing Director; China International Import Expo, Shanghai; November 5, 2018\n\n---\n\n\n References\n\n- Christine Lagarde\n- People's Republic of China and the IMF\n- Speeches\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future" } ], "bullets": [ "[Markdown version](/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future/index.md)", "[Structured JSON version](/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future/index.json)", "[Bundle manifest](/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future/bundle-manifest.json)", "Authors: Christine Lagarde", "Published: November 5, 2018", "China began building this bridge 40 years ago by opening its economy and initiating reforms that transformed the lives and prospects of hundreds of millions of people.", "China's integration through trade, hard work, and learning from others has contributed significantly to global productivity, innovation, and living standards.", "Policy emphasis:", "Key observation:", "China is rebalancing toward consumption-led growth rather than export- and investment-led growth.", "Evidence of progress:", "Benefits:", "Policy emphasis:", "China is harnessing international cooperation, especially on trade, to build a bridge to the future.", "The IMF calls on all countries to:", "Broader point:", "Philosophical note:", "The speech uses Shanghai — “the city of 12 bridges” — as a symbol and a call to work together to build bridges to peace and a prosperous future.", "Closing words: “Thank you. Xièxiè.”", "[Christine Lagarde](https://www.imf.org/en/About/senior-officials/Bios/christine-lagarde)", "[People's Republic of China and the IMF](http://www.imf.org/external/country/CHN/index.htm)", "[Speeches](https://www.imf.org/en/news/searchnews)", "[PRESS CENTER](http://presscenter.imf.org/)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future/index.md", "json": "/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future/index.json", "bundleManifest": "/en/news/articles/2018/11/05/three-bridges-to-a-prosperous-future/bundle-manifest.json" }, "generatedAtUtc": "2026-09-25T22:18:07.525Z" }