The market economy needs competition and reform and developed countries must pay attention to China's growing presence, says an article in People's Daily (excerpts below).

The competition triggered by China' exports promotes growth in neighboring countries.

However, many countries claim that China's exports rob countries of jobs and exacerbates economic recession. This is misplaced. Competitive exports always benefit both parties and the innovation spillover of exports benefits not only the United States and the eurozone but other areas as well.

Only through treating China's exports as indicators of innovation can developed countries transform their challenges to opportunities and upgrade their industrial structures.

In the era of globalization, competition cannot be ignored. Developed countries should actively adapt to the new era through reform.