As you know, I have circulated President’s long speech at virtual Davos to about 160 people on my contact list. Most people did not read it because it is too long and they thought it did not matter to them. They are wrong because it matters to everyone. It involves the economy and lives of everybody in the world. I trust you will read it and forward it to your friends.
What is Davos?
The World Economic Forum is an international non-governmental and lobbying organisation based in Colony of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab.
The flagship event of the World Economic Forum is the invitation-only annual meeting held at the end of January in Davos, Switzerland, bringing together chief executive officers from its 1,000 member companies, as well as selected politicians, representatives from academia, NGOs, religious leaders, and the media.
President Xi Jinping of China called for stronger international cooperation in overcoming shared global challenges including defeating COVID-19, revitalizing the economy and addressing climate change, in the opening session of the World Economic Forum’s virtual event, the Davos Agenda 2022.
Xi outlined that the international community is still locked in a tenacious battle against what he called “a once-in-a-century pandemic”. Calling for greater global cooperation, he said: “The fight against the pandemic is proving to be a protracted one. COVID-19 is resurging with different variants and spreading faster than before. He added that shifting blame will only cause delays in response.”
Speaking in a special address to business, government and civil society leaders taking part in the week-long virtual event, he laid out a three-pronged approach to safeguard people’s health. First, countries need to strengthen active cooperation on research and development of medicines. Second, leaders need to build multiple lines of defence against the coronavirus. Third, countries need to fully leverage vaccines by ensuring equitable distribution, boosting vaccination rates and closing the global immunization gap.
Xi said that China is doing its part, having already sent more than 2 billion doses of vaccines to more than 120 countries and international organizations, to be closely followed by at least another 1 billion doses.
As the world emerges from the depths of pandemic gloom, Xi cautioned that several risks threaten to derail economic recovery, including disruptions in global supply chains, tight energy supply and rising commodity prices. He said: “If major economies take a U-turn in their monetary policies, there would be serious negative spill overs which will challenge global economic and financial stability.”
To fully unleash the vitality of the world economy, he also called for less protectionism, especially on trade. Economic globalization is an unstoppable trend which will not veer off course, he said, despite counter-currents along the way: “We should remove barriers, not erect walls. We should open up, not close off. We should seek integration, not de-couple.”
Xi highlighted China’s reform path. He pointed out that China’s domestic growth in 2021 hovered around a healthy 8% annually, with the country achieving its dual target of high growth with low inflation. Nevertheless, he also said Chinese leaders are aware of the further work necessary to achieve prosperity that benefits all people. “We remain committed to reform and opening up,” he said. “A rising tide indeed lifts all boats.”
On climate change, the Chinese president said that China stands ready to help the international community realize the UN 2030 agenda for sustainable development and to achieve carbon neutrality in the long term. He outlined that China would honour its word to achieve carbon peaking by 2030 followed by specific industry plans towards carbon neutrality. Xi pointed out that China has the world’s biggest carbon market and clean energy capability.
Xi also cautioned that “weaponizing economic, scientific and technological issues will gravely undercut international efforts to tackle common challenges”. He said: “Developed countries should take the lead in honouring their emission reductions, deliver on their commitment to financial and technological support and create conditions for developing countries to address climate change,” he added.
World Economic Forum’s Founder and Executive Chairman thanked China.
Klaus Schwab, the World Economic Forum’s Founder and Executive Chairman, thanked China for taking an active part in collaborative global efforts to combat shared challenges. “The year 2022 will provide a unique opportunity for global leaders to work jointly towards a more inclusive, more sustainable and more prosperous world,” Schwab said. “We must unite despite the different views we hold; ultimately we belong to a single global humanity whose fate is increasingly interconnected.”
Summary of the above summary
China’s President Xi Opens Davos Agenda with a call for greater global cooperation to tackle common challenges.
1. To step up macroeconomic policy coordination and jointly promote strong, sustainable, balanced and inclusive growth of the world economy.
2. To abandon ideological prejudice and jointly follow a path of peaceful coexistence, mutual benefit and win-win cooperation.
3. To close the divide between developed and developing countries and jointly bring about growth and prosperity for all.
4. To come together against global challenges and jointly create a better future for humanity.
5. We should stay committed to openness and inclusiveness instead of being closed off and exclusionary.
6. We should stay committed to international law and international rules instead of seeking one's own supremacy.
7. We should stay committed to consultation and cooperation instead of conflict and confrontation.
8. We should stay committed to keeping up with the times instead of rejecting change.
9. China will continue to take an active part in international cooperation on COVID-19, will continue to implement a win-win strategy of opening-up, will continue to promote sustainable development, will continue to advance science, technology and innovation, will continue to promote a new type of international relations.
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