LA PAZ, Aug. 22 (Xinhua) -- The founding of modern China has set the stage for its extraordinary development and sustained growth, making the Asian nation a "key player" in global affairs, leading Bolivian academic Juan Pablo Saucedo has said.
"In recent decades, China has become a key player on the international stage, especially due to economic and trade aspects, translated into the development of its population," Saucedo told Xinhua in a recent interview.
"The world's most populous country went from being a collection of small agricultural villages to the state we know today, with a diversified economy and significant technological development," said Saucedo, a professor of international relations at Bolivia's Nur University.
The biggest success of China's reform and opening-up policy in 1978 has turned the country into a major global exporter, said Saucedo, who also heads research and projects at the private Bolivian Foreign Trade Institute.
China became the "world's factory" and countless jobs have been generated after opening up to foreign investment, which helped to lift millions out of poverty, he said.
"The Chinese people's improved earnings in turn led to greater levels of consumption, allowing other sectors with high potential to develop," said Saucedo, adding "technology was incorporated to mass produce high value-added goods."
Under the leadership of the Communist Party of China, the country has maintained stability and sustained growth, the Bolivian expert said.
Looking to the future, the China-proposed Belt and Road Initiative aims to spur domestic and global economic growth through increased trade with the world's different regions, said Saucedo.
Through the initiative, said the academic, China is not only building infrastructure in Latin America, but also investing in the region's information and technology sectors.