It is with the words of the Chinese president, Xi Jinping, that the work of the World Economic Forum in Davos opened, which is taking place this year in virtual mode: “We must cooperate to defeat the pandemic – he said -, guaranteeing a” equitable and accelerated distribution of vaccines‘. “To prevent the world economy from collapsing again – is his reflection -, the most developed countries in the world should adopt responsible economic policies. We have to reduce the gap regarding development “, and it is necessary” to remove the barriers, open up, integrate “.
«The pandemic is prolonging – he observed -, it represents a threat to the safety and health of people, and inflicts a profound impact on the global economy. Strong trust and collaboration are the only way to defeat the pandemic. Slowing each other down, or blaming each other, will only cause unnecessary delay in responding, and distract us from the overall goal. Countries must strengthen international cooperation against Covid-19, conduct active and cooperative research and the development of medicines, build more lines of defense against the coronavirus together, and accelerate efforts to build a global community of health for all “.
We need to react to return to economic growth: «We must promote a constant recovery of the world economy. The world is emerging from the recession, but it is still facing many constraints. The global industrial supply chain has been disrupted, commodity prices continue to rise, energy supply remains difficult. These risks add to each other and increase uncertainty about the economic recovery. The global environment of low inflation has changed considerably ”. New solutions are needed: «In the context of the ongoing response to Covid-19, we need to explore new engines of economic growth, new ways of social life and new paths of exchange between people. In an effort to facilitate cross-border trade, keep industrial supply chains safe and smooth, and promote steady and solid progress in the global economic recovery. Economic globalization is the trend of the times ».
However, the Chinese president said he was confident of the future of his country’s economy, which today recorded 8% growth for 2021: “Despite the enormous pressure caused by changes at home and abroad, the fundamentals of the Chinese economy, with strong resilience, broad potential and long-term improvement, have not changed, “and China, he added, has” full confidence “in its economic development.
He called for dialogue instead of confrontation and reiterated China’s opposition to hegemonism and force politics, in what appears to be a veiled appeal to the United States. “We must follow the general trend of history and dedicate ourselves to stabilizing the international order. We must adhere to dialogue rather than confrontation, to oppose unilateralism, protectionism and all forms of hegemonism and politics of force ». The “confrontation” between the great world powers can cause “catastrophic consequences”, he warned: “History has shown several times that confrontation does not solve problems, but only leads to catastrophic consequences”.
“If the main economies were to slow down or reverse their monetary policies – said Xi – there would be serious negative repercussions that would pose serious challenges to global economic and financial stability and developing countries would pay the greatest price in the context of a response. to a pandemic that is still ongoing ». Although there may be contrary currents for a certain period – he added – the path of globalization has never deviated and countries around the world should support true multilateralism and remove barriers rather than erect walls. «We should open not close, look for integration rather than decoupling. This is the way to build an open world economy and to this end we should work on a reform of the global system of governance based on the principle of equity and justice ”. “The main economies – concluded Xi – should see the world as a single community that thinks more systematically about how to increase the transparency of policies and the sharing of information and to coordinate the intensity and pace of fiscal and monetary policies in in order to prevent the collapse of the world economy. The main developed countries should adopt responsible economic policies and avoid serious impacts on developing countries ”.