Translate the following paragraphs from Chinese into English.
Paragraph 1
目前世界各国处在不同发展阶段, 通过国际产能合作, 不仅可以有效对接各方供给与需求, 而且可以用供给创新带动需求扩大。 发展中国家工业化、 城镇化正在加快发展, 对适用的技术装备和基础设施建设需求强劲; 不少中等收入国家和发达国家的装备与基础设施也需要更新改造。 由于受到资金和价格的制约, 有些需求被抑制。从各自的比较优势看, 发达国家有关键技术和先进装备, 但装备和产品因价格较高销路受限; 发展中国家自然资源丰富、 劳动力成本低, 但产业、 产品多处在低端。
Countries are at different stages of development. Global cooperation on production capacity will match supply with demand effectively, and generate more demands through innovation on the supply side. As developing countries accelerate industrialization and urbanization, they now have a strong demand for applicable technologies, equipment and infrastructure. Many middle-income countries and developed countries also need to upgrade their equipment and infrastructure. However, constrained by funding shortage, some demands have been repressed. Talking about comparative strengths, developed countries have advanced key technologies and equipment, but the demand for their products and equipment is limited due to high prices. Developing countries may enjoy rich natural resources and low labor costs, yet most of their industries and products are at the low end.