The World Economic Forum (WEF) Annual Meeting 2024, themed “Rebuilding Trust,” was held in Davos-Klosters, Switzerland, from January 15 to 19. This prestigious forum attracted approximately 2,800 global leaders, including over 60 heads of state and government, 300 public figures, and 1,600 corporate executives. The WEF 2024 focused on four key themes: security and cooperation in a fractured world, job creation and growth, the societal benefits of artificial intelligence, and strategies for climate, nature, and energy. Chinese Premier Li Qiang attended the WEF Annual Meeting 2024, emphasizing China’s role in global economic cooperation and addressing international challenges. In his speech on January 16, Premier Li highlighted the importance of global cooperation to overcome fragmentation and rebuild trust. He stressed the need for respecting international industrial divisions of labor, ensuring stable global supply chains, and promoting scientific and technological advancements.
Premier Li’s address underscored China’s commitment to openness, economic recovery, and stability. He pointed out that China, as the world’s second-largest economy and a key player in the global supply chain, expects a 5.2 percent GDP growth in 2023. His remarks were seen as encouraging for foreign companies and supportive of rules-based, free-market international trade. The Chinese Premier’s focus on globalization was significant for a global audience concerned about the state of the global economy. He emphasized the necessity of China’s commitment to openness and scientific and technological progress for the prosperity of the world economy. Li also underlined the importance of stable supply networks and global chains to serve the interests of all stakeholders.
In his address, Premier Li advocated for multilateralism and outlined five proposals, including coordinating macroeconomic policies, promoting international industrial specialization, encouraging innovation collaboration, fostering green development, and strengthening North-South cooperation. These proposals are seen as crucial to maintaining global prosperity and the spirit of globalization during economic downturns and geopolitical tensions. The WEF President Borge Brende also highlighted the importance of rebuilding trust to address transboundary challenges such as climate change, future pandemics, cybercrime, and cyberattacks. The theme “Rebuilding Trust” was centered on responsibility, openness, and bridging gaps between developing and developed countries.
China’s role at the WEF emphasized promoting mutual understanding, globalization, and free and fair international trade. Premier Li’s commitment to high-level opening-up, economic reforms, and peaceful development aligned with the WEF’s liberal philosophy. Brende recognized China’s contributions to global economic growth and its shift towards digital commerce and electric vehicles. The WEF summit aimed to act as a catalyst for facilitating international trade and removing trade barriers. China’s stance on promoting globalization and the WEF’s liberal trade policy was reiterated, with a focus on addressing long-term global concerns like peaceful solutions to wars and conflicts, climate change, energy transformation, AI governance, and cyber-security.
In conclusion, the WEF Annual Meeting 2024 served as a platform for China to reaffirm its commitment to globalization, international cooperation, and addressing key global challenges. The summit underscored the need for constant communication, participation, solidarity, and openness to ensure a fair and secure global trading system.
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