Vice-Premier Renews China’s Commitment to Globalism

Published
21 Jan 2020
2020
Share

Oliver Cann, Public Engagement, World Economic Forum, +41 79 799 3405, oliver.cann@weforum.org

· China’s Vice-Premier Han Zheng said China will not follow others towards more protectionism

· Blaming the economy’s problems on globalization neither reflects the facts nor provides a solution, he said

· China intends to continue to work closely with multilateral institutions

· For more information, please visit www.weforum.org. Share on social media using the hashtag #wef20

Davos-Klosters, Switzerland, 21 January 2020 Han Zheng, Vice-Premier of the People's Republic of China, reaffirmed China’s commitment to continued global economic integration and multilateral institutions even amid growing international tension. “Despite the protectionist and unilateral moves by some countries, China will not stop opening up,” he said. “We will not follow in the footsteps of those moving in the opposite direction.”

Han’s comments came during his special address to a plenary session during the World Economic Forum Annual Meeting 2020. He noted that globalism is both an underlying trend and a driver of economic growth in today’s world. Economic uncertainty engenders greater friction in terms of trade and investment, but protectionism is not a good remedy. “All countries feel pressure, but to simply blame economic globalization does not reflect the facts – nor does it help solve the problem,” he said. Instead, he advocated building “an inclusive and open world economy” that will “make the pie bigger” for everyone.

The vice-premier also stressed the need to work with multilateral institutions such as the United Nations, the G20, the World Trade Organization and others on issues of economic development, poverty alleviation, the Sustainable Development Goals and climate change. He also ran through a litany of recent and future policy changes designed to facilitate both imports and foreign investment. “Openness is a trademark of today’s China,” he said.

Han called the World Economic Forum’s 1 Trillion Trees Initiative “highly valuable” and pledged to share China’s expertise in reforestation

The World Economic Forum Annual Meeting 2020 is taking place from 21-24 January in Davos-Klosters, Switzerland. The meeting brings together nearly 3,000 global leaders from government, international organizations, business, civil society, media, culture, foremost experts and the young generation from all over the world, at the highest level and in representative ways. Convening under the theme, Stakeholders for a Cohesive and Sustainable World, participants are focused on defining new models for building sustainable and inclusive societies in a plurilateral world. The meeting engages some 50 heads of state and government, more than 300 ministerial-level government participants and business representation at the chief executive officer and chair level. For further information, please click here.

All opinions expressed are those of the author. The World Economic Forum Blog is an independent and neutral platform dedicated to generating debate around the key topics that shape global, regional and industry agendas.