The Video Conference of World Economic Forum Gathers Wisdom to Meet Challenges
2022-01-23 09:06

The five-day video conference of the 2022 World Economic Forum came to an end on the 21st. Affected by the epidemic, this forum was held online, and representatives from the global political and business circles met in the cloud, in order to explore new kinetic energy of economic growth, new mode of social life and new path of personnel exchanges under the epidemic, and promote the steady and realistic process of world economic recovery.

 

Chinese President Xi Jinping attended this video conference in Beijing on 17th and delivered a speech entitled "Strengthening Confidence and Bravely Moving Forward to Create a Better World in the Post-epidemic Era", which clarified how to create a better world in the post-epidemic era, injected strong impetus into revitalizing the global development cause, and won high recognition and positive response from the international community.

 

Contribute China's Strength

 

How can we overcome this epidemic and build a post-epidemic world? In the face of this era, President Xi Jinping gave a Chinese plan from a historical and philosophical perspective: work together to overcome the epidemic; Resolve all kinds of risks and promote the stable recovery of the world economy; Crossing the development gap and revitalizing the global development cause; Abandon the Cold War mentality and achieve peaceful coexistence and mutual benefit.

 

Schwab, founder and executive chairman of the World Economic Forum, said at the meeting that President Xi Jinping's speech is very important, and solving problems together through dialogue and cooperation is the only way to achieve peace and prosperity of mankind.

 

Jin Ping, director of the Institute of International Relations of the Royal Cambodian Academy of Sciences, said that President Xi Jinping's speech shows that China is always willing to work with the international community to promote all parties to enhance their confidence in multilateralism and globalization, build an open world economy, open up a new road of inclusive growth and sustainable development, and create a better future.

 

Lu Yaoqun, director of the Institute of Governance and Sustainable Development of the Business School of the National University of Singapore, said that global unity is crucial in this unprecedented epidemic. China plays a key role in promoting the development of emerging economies and developing countries through international cooperation initiatives such as "the belt and road initiative". Countries should unite to promote each other's economic development.

 

In the past 2021, China's economic transcripts were remarkable, with GDP increasing by 8.1% over the previous year and an average growth rate of 5.1% in both years, ranking first among the major economies in the world. In this year, China's total economic output is expected to account for over 18% of the global economy, and its contribution rate to world economic growth is expected to reach about 25%. In the process of carrying out anti-epidemic cooperation and promoting economic recovery, China's participation is indispensable and has become an important engine leading the world economic recovery.

 

China's steady economic growth, the benefits of opening up and the wisdom of development have contributed wisdom and strength to creating a better world in the post-epidemic era, which has been highly endorsed by political and business circles in various countries. Michael Schumann, president of the German Federal Economic Development and Foreign Trade Association, said that China's economic growth in 2021 is considerable. Such growth is particularly commendable in the fight against COVID-19 pandemic and its economic fallout and could inspire Western countries to follow its example and strengthen their efforts to revive their economies.

 

Risk superposition crisis is imminent

 

On the opening day of the forum on 17th, the World Health Organization announced that the cumulative number of confirmed cases in COVID-19 in the world has exceeded 320 million, and the number of confirmed cases in COVID-19 in many countries has reached record highs. According to the latest Global Economic Outlook report of the World Bank, the global economic recovery momentum has slowed down significantly this year and next due to factors such as epidemic situation, inflation, debt and income imbalance.

 

The epidemic is raging, the global economic recovery is unbalanced, climate action is weak, and the social gap is widening... The world has entered a new period of turbulent change, and mankind is facing unprecedented challenges. According to the Global Risk Report 2022 released by the World Economic Forum, more than 84% of the respondents are worried about the world prospects.

 

In his speech to the video conference of the 2022 World Economic Forum on 17th, UN Secretary-General Guterres pointed out that the global economy is moving from stagnation to slow recovery, but the global economic recovery is still fragile due to factors such as the continuous spread of COVID-19 pandemic and the impacted labor market.

 

Georgieva, managing director of the International Monetary Fund, believes that repeated epidemics, high inflation in many countries and record global debt levels mean that the road to global economic recovery in 2022 is full of frustrations, and "economic growth is losing momentum".

 

Peter, chief risk officer of Zurich Insurance Group, pointed out that the climate crisis is still the biggest long-term threat facing mankind, and if no action is taken on climate change, the global GDP may shrink by one sixth.

 

"Everyone hopes that COVID-19 pandemic and the resulting crisis will gradually begin to fade in 2022. But many serious global challenges, from climate change to rebuilding trust and social cohesion, are waiting for us to deal with," Schwab said.

 

It is urgent to work together

 

Since the outbreak of COVID-19 pandemic, it has claimed more than 5.5 million lives around the world, disrupted global production and life, and aggravated political, economic and intergenerational differences. Participants in the forum said that the world needs unity more than ever before, and called for firmly grasping the two keys of "equality" and "cooperation" to actively respond to the epidemic, economic recovery and other global challenges.

 

Sadia Zahidi, executive director of the World Economic Forum, pointed out before the meeting that global cooperation in public health and economic development is crucial to achieve a more balanced and rapid global recovery, and global leaders must make concerted efforts and carry out multi-party cooperation to jointly cope with persistent global challenges.

 

Michael Ryan, Executive Director of WHO's Health Emergency Project, said in a speech at the World Economic Forum on the 18th that at present, more than half of the world's population has been vaccinated with two doses, but the vaccination rate data provided by WHO's Africa Regional Office in this region is only 7%. "Equal use of these vaccines is not only an important humanitarian goal about fairness, but also the best way for all of us to get out of the COVID-19 pandemic."

 

David Root, chief economist of South Africa's Efficient Group, said that all countries need to make joint efforts to open up their economies and ensure that the global economy recovers as soon as possible, which will benefit all countries including South Africa.

 

During the forum, representatives of all parties also discussed a number of issues such as supply chain bottlenecks and energy transformation, urging consensus to be turned into action and vision to be turned into reality as soon as possible.