He revealed the reasons behind it, and Musk, Bill Gates, and others visited China one after another | globally | Bill Gates
On June 29th, a grand event concluded in Tianjin - the Summer Davos Forum. More than 1500 world-renowned entrepreneurs, politicians, scholars, and others gathered together to discuss how to revitalize innovation in Asia and the world.
China US relations need to be stabilized as soon as possible
This year marks the resumption of the Summer Davos Forum in China after four years. Recently, China Daily interviewed Chen Liming, Chairman of the Greater China Region of the World Economic Forum, to discuss economic issues.
Chen Liming stated that the geopolitical events of the past few years, especially the trade frictions between China and the United States, have not only had an impact on the bilateral economy, but also spilled over to many related countries. The three-year epidemic has added insult to injury to the economy.
ChenLiming,ChairofGreaterChina,WorldEconomicForum,statedthatinthepastfewyears,geopoliticalissues,especiallytheChina-UStradefrictions,havenotonlyaffectedbilateraleconomiesbutalsospilledovertomanyrelatedcountries.Thethree-year-longpandemichasfurtherexacerbatedeconomicwoes.
An intuitive data is that in 2019, one year after the start of the trade war, China US trade shrank by nearly 100 billion US dollars, and China's investment in the United States sharply declined. Global economic growth has slowed to 3%, the lowest growth rate in 10 years. The relationship between China and the United States needs to be stabilized as soon as possible, rather than spiraling downwards, which is crucial for the overall global situation.
One telling statistics is that a year after the trade war started, in 2019, China US trade shock by soon a married bill US dollars, and Chinese investment in the US plummed Global economic growth slowed to 3%, marking the lowest growth rate in a decade Stabilizing China US relationships as soon as possible, rather than descending into a downward spiral, is critical for the global situation
In addition, the conflict between Russia-Ukraine conflict has led to the rise of global energy prices and challenges to food supply. Overall, the global economic recovery is weak, with some countries facing severe inflation and some countries at risk of recession. At the same time, the world also faces long-term major global challenges such as climate change, energy transition, environmental protection, and biodiversity reduction.
Against this backdrop, the hosting of this summer Davos Forum is timely, allowing all parties to speak freely and seek ways to respond.
Why do foreign giants visit China one after another
Recently, well-known entrepreneurs such as Musk and Bill Gates have visited China one after another. Regarding this, Chen Liming stated that as the world's second-largest economy and a major trading partner of over 140 countries and regions, China holds the largest share in global goods trade, demonstrating its importance in the international economic system. The visits of these outstanding entrepreneurs reflect that they do not want to become "sandwiched biscuits" between China and the United States in trade.
Recently,notableentrepreneurssuchasElonMuskandBillGateshavevisitedChina.Chenbelievesthatastheworld'ssecond-largesteconomyandamajortradingpartnerwithover140countriesandregions,Chinaoccupiesthelargestshareinglobalgoodstrade,showcasingitsimportanceintheinternationaleconomicsystem.Thevisitsoftheseoutstandingentrepreneursreflecttheirdesirenottobecomeasandwiched"cookie"betweenChinaandtheUStradetensions.
Chen Liming stated that in many fields, China is already the world's largest market. The consumption of goods and services will also bring spillover effects to neighboring countries. The vast market in China has full appeal, and although every enterprise has the right to make independent decisions, such a huge market is something that no entrepreneur wants to give up. The true driving force for entrepreneurs to visit China is to have a foothold and long-term development in such a huge market.
How to boost market confidence
The year-on-year growth of China's GDP in the first quarter of this year was 4.5%. According to the International Monetary Fund's forecast, China's GDP growth rate will increase from 3% in 2022 to 5.2% in 2023, and is expected to contribute one-third to global economic growth this year.
China's GDP has increased by 4.5% in the first quarter of this year According to the International Monetary Fund forecast, China's GDP growth rate will increase from 3% in 2022 to 5.2% in 2023, contributing one child of global economic growth this year
Chen Liming believes that this is good news for both China and the world. As countries recover and prices stabilize, the backlog of consumer demand is being released. The pandemic has accelerated the transformation of consumer habits, had a significant impact on all industries, and shaped the future business and consumer landscape. How to restore market confidence has become an important issue. In this situation, maintaining policy stability, transparency, sustainability, and predictability is crucial for entrepreneurs.
Chen Liming stated that enterprises and entrepreneurs are creators of social wealth, the main force of innovation and change, and an important driving force for global economic development. They have a keen sense of smell and are very good at capturing market opportunities. Chen Liming believes that in this era of change, we increasingly need entrepreneurial spirit and the confidence of entrepreneurs. Under the guidance of entrepreneurial spirit, we should strengthen dialogue and cooperation, constantly explore and innovate.
Chenstatedthatbusinessesandentrepreneursarecreatorsofsocialwealth,thedrivingforcebehindinnovativechange,andanimportantdriverofglobaleconomicdevelopment.Theyhaveakeensenseandareadeptatcapturingmarketopportunities.Inthiseraoftransformation,Chenbelievesthatthespiritofentrepreneurshipisinhighdemand."Weneedtocontinuetoinstillconfidenceinentrepreneurs,strengthendialogueandcooperation,continuouslyexplore,andinnovateundertheguidanceoftheentrepreneurialspirit,"Chensaid.
