EMDCs on the path of cooperation

Emerging markets and developing economies are expected to grow by 4% in 2023 and 4.1% in 2024, an IMF report shows. —Xinhua

BEIJING: Emerging markets and developing countries (EMDCs) have risen rapidly since the start of the 21st Century, becoming a significant driving force of global economic growth, experts have said during a recent forum in Beijing.

During this period, the economic scale of EMDCs had accounted for half of the global economy, contributing around 80% of world economic growth, Lin Songtian, president of the Chinese People’s Association for Friendship with Foreign Countries said at the EMDC Development and Cooperation Beijing Forum.