Davos, World Economic Forum (WEF) & China news, updates

[ahojunk]

China seen leading on global issues at Davos
2017-01-11 10:12 | chinadaily.com.cn | Editor: Li Yan

Lord Mark Malloch-Brown, former United Nations Deputy Secretary-General.
(Photo provided to chinadaily.com.cn)​

China is expected to champion global free trade, sustainable growth and the international rule of law at this year's World Economic Forum in Davos, says Lord Mark Malloch-Brown, former United Nations Deputy Secretary-General.

He was speaking shortly before the announcement that President Xi Jinping will this month become the first Chinese president to attend the annual forum.

Malloch-Brown, who is co-founder of the lobby group Business and Sustainable Development Commission told China Daily that Beijing's role in those important global issues was "an important demonstration of China's increasing leadership in the international space."

The Commission, established at Davos in 2016, is launching a report at this year's forum urging businesses to incorporate social responsibility and sustainability into their development plans.

Malloch-Brown says China has an opportunity to lead in many areas, including infrastructure investment, where his Commission's report identifies a potential annual deficit of $2-3 trillion over the next 15 years.

China's advocacy for infrastructure investment along the Belt and Road Initiative, and the Chinese-led Asian Infrastructure Investment Bank can play a significant leadership role in filling that gap, he says.

"Given the long term nature of infrastructure spending, it is really important to create public-private partnership models to mitigate risks for the private sector," he said.

"What's striking about the AIIB is its ability to deploy lots of capital, especially by pulling capital from the private sector. On scale and ambition, many older generation multinational development banks can learn from it."

AIIB generally invests in the initial stages of big infrastructure projects, allowing the private sector to carry less risks.

Malloch-Brown says the AIIB's capital commitment is able to attract private sector money because its agenda is closely aligned with the Chinese government's emphasis on China becoming an important trading nation.

"It offers the private sector long-term consistency and profitability," he said.

China's significant presence at Davos this year comes at a time when the new U.S. president Donald Trump will be absent, attending his inauguration.

"As the U.S. seems to step back from the global system, it makes room for others, and most prominent is China," said Malloch-Brown. "We see China is being more active in a range of global and regional issues."

He said China's commitment to cutting carbon emissions and to sending more peacekeeping soldiers to support the UN's efforts were examples.

Malloch-Brown believes China will take the opportunity at Davos to stress the importance of open global trade, international collaboration to encourage technology advancement, fulfilling climate change goals and encouraging investment in infrastructure.

In addition, he sees rapidly globalizing Chinese businesses playing a big role in generating global growth. Along with its commitment to infrastructure investment and carbon reduction targets, China can make a big contribution to the UN sustainable development goals, he said.

 

[Dalit]

Sums it up quite nicely. One in decline and the other on the rise.

 

[grey boy 2]

China claims lion's share of global growth
(China Daily) 08:50, January 11, 2017

China contributed up to 40 percentof global economic growth in 2016, double the total contribution of the developed economies,Jiang Jianguo, Minister of the State Council Information Office said on Tuesday in Geneva.

At a dialogue attended by media leaders from China and Switzerland, Jiang revealed the findings of the International Monetary Fund latest global economic outlook to give them an "objective and fair" view on China's economy and its contribution to the global recovery.

"Based on the IMF figures, China has contributed 39 percent of global economic growth in 2016, while the developed economies' total contribution has not surpassed half of that of China," said Jiang, who was in Switzerland ahead of President Xi Jinping's upcoming visit.

"Steady growth from China has resulted in a stable base for the global economy," said Jiang.

From 15-18 January, Xi will be paying a state visit to Switzerland, attending the annual meeting of World Economic Forum in Davos, visiting the International Olympics Committee and World Health Organization and attending a high-level United Nations conference.

Xi has visited up to 50 countries since he became China's top leader in late 2012 but it is first time he will stay four days in a single country.

Jiang said this indicated that China attaches great importance to the bilateral relationship between China and Switzerland and also that the country is willing to explain its increased commitments in taking more global responsibility in a world full of challenges.

Though China has slowed its growth as it restructures its economy, Jiang said it has bright future and will bring more opportunities to the world.

More than ten media outlets from China and Switzerland participated in the dialogue and they discussed on how to report President Xi's visit and China's economy.

Adrian Monck, member of the managing board of the World Economic Forum, said that globalization faces rising challenges and the media should also look at those being left behind in the process.

The forum has arranged more than 400 sessions of dialogue at Davos from 17-20 January to deal with the challenges.

Regarding the Chinese president's coming visit, Monck said it is fascinating to see how Chinese president Xi will respond to the theme of this year's forum, which is responsive and responsible leadership.

"If you look at the Paris climate change meeting and other occasions, China is a central player in global governance…and we are fascinated to see what are President Xi's new visions in helping solve the global problems," said Monck.
http://en.people.cn/n3/2017/0111/c90000-9165364.html

 

[Jlaw]

Heard this on the radio this morning

 

[AndrewJin]

No india? surprising since its the fastest growing major economy........

Already a supa powa in 2012, no need to make any contribution to the world economy though dreaming of double digit growth.

Heard this on the radio this morning

China is still adding 2 trillion dollar every 3 years.....

 

[ahojunk]

China's economy, globalization to be on top of President Xi's Davos agenda
2017-01-12 08:18 | Xinhua | Editor: Mo Hong'e

President Xi Jinping will discuss the latest developments in China's economy and more inclusive globalization during his first visit to the Davos summit.

Vice Foreign Minister Li Baodong told a press briefing on Wednesday that Xi's presence at the 47th World Economic Forum (WEF) annual meeting will help the world better understand China's economic situation and prospects as well as China's stance on current global problems.

At the invitation of WEF founder and executive chairman Klaus Schwab, Xi will attend the annual meeting in Davos, Switzerland, on Jan. 17.

It will be the first time a Chinese president has attended the summit, an influential political gathering. Several Chinese premiers have been present at Davos since 1992.

Xi will deliver a speech at the opening ceremony, and hold discussions with Schwab and guests from business, media and academic circles, Li said.

Li said China will offer perspectives and proposals and exert active efforts to drive economic globalization toward more inclusive development, and expects all parties to have an objective and in-depth understanding of China's economy.

China opposes trade protectionism, and supports solutions to trade disputes that are sought with an open and inclusive attitude and a reciprocal spirit, Li added.

Xi's mission in Davos is to "reduce uncertainties" through injecting confidence and solidarity into the international business community, according to Chen Xulong, an expert at China Institute of International Studies.

INNOVATIVE TIES

President Xi will pay his first state visit to Switzerland from Jan. 15 to 18, at the invitation of the country's Federal Council.

While there, he will hold talks with President of the Swiss Confederation Doris Leuthard, who took on the rotating one-year presidency for 2017 on Jan. 1. In addition, he will meet leaders of the Federal Assembly and talk with representatives from the Swiss economic circle.

The two heads of state will witness the signing of several cooperation deals covering politics, free trade, culture, customs, energy and sport, according to Li.

The two countries, which forged an innovative strategic partnership during then-president Johann Schneider-Ammann's state visit to China in 2016, will also discuss cooperation in innovation, Li added.

Wang Yiwei, a professor at Renmin University of China in Beijing, said that Switzerland's innovation strength is very attractive to China that is striving for economic restructuring.

Switzerland was among the first European countries to recognize China's market economy status. Wang believes that a stronger China-Switzerland economic relationship is helpful to China's ties with Europe

COMMUNITY OF SHARED DESTINY

President Xi will also go to Geneva and Lausanne, where he will visit the United Nations office at Geneva, the World Health Organization (WHO), and the International Olympic Committee headquarters.

According to Li, he will deliver a speech on establishing a "community of shared destiny" at the Palace of Nations and meet UN Secretary-General Antonio Guterres, their first meeting since the latter took office on Jan. 1.

The concept of "community of shared destiny" is one of the most important diplomatic concepts China has proposed in recent years, said Chen Xulong, noting that the president's Geneva visit shows support for multilateralism and international collaboration.

China will sign documents with the WHO on healthcare cooperation under the framework of the Belt and Road Initiative, said Li.

With regard to a question about whether Xi will contact with the U.S. delegation on the sidelines of the Davos summit, Li said the Chinese side maintains a smooth communication channel with President-elect Donald Trump's team and does not rule out the possibility.

"The Chinese side is willing to contact various parties to arrange some bilateral meetings, as long as there is willingness and a convenient time," Li said.

 

[ahojunk]

China, Trump envoy may meet at Davos
2017-01-12 10:46 | China Daily | Editor: Feng Shuang

Talks possible next week on World Economic Forum sidelines

World attention is being drawn to the possibility of a meeting of representatives from the world's two largest economies at the World Economic Forum annual meeting at Davos, Switzerland next week.

With concerns over trade protectionism and anti-globalization swirling, there are signs that the Chinese delegation could meet on the sidelines with the transition team of U.S. president-elect Donald Trump. Such a meeting could help narrow positions on trade and sensitive political issues, observers said.

Uncertainty over those positions has rocked Asia-Pacific nations that would be the most affected by a trade war or a security conflict, they said.

President Xi Jinping will lead the Chinese delegation to Switzerland for a state visit from Sunday to Wednesday. On Tuesday, he will become the first top Chinese leader to attend the Davos meeting.

Given that Trump will take office on Jan 20, "someone from the transition team representing the new administration" will attend the forum, Klaus Schwab, forum executive chairman, said on Tuesday. It remains unclear who that would be.

Asked whether a Trump representative would meet with the Chinese delegation at Davos, Vice-Foreign Minister Li Baodong said on Wednesday at a news briefing on Xi's trip that "there are open channels of communication" between Beijing and Trump's team.

Beijing is willing to arrange meetings with various parties if time permits on the sidelines of the Davos forum, so "the relevant two-way meetings are being discussed", Li said, without directly confirming a meeting with the Trump team.

Also on Wednesday, Vice-Foreign Minister Liu Zhenmin said Beijing hopes that "the U.S. respects China's interests and concerns in the Asia-Pacific region", adding that China is "willing to maintain contacts with the new U.S. administration over Asia-Pacific affairs and discuss cooperation".

Security in the Asia-Pacific cannot be maintained by the U.S. alone as it requires joint efforts by all countries, particularly the major countries, Liu said at a news conference.

Shi Yinhong, a professor of international relations at Renmin University of China in Beijing, said if the Davos meeting happens, Trump's envoy might press Beijing on financial issues and the Taiwan question.

Zhong Feiteng, a researcher on Asia-Pacific studies at the Chinese Academy of Social Sciences, said that China may ask the new Cabinet to be cautious on trade policies, and attention will be given to the Taiwan question and the South China Sea issue to prevent a deteriorating regional security situation.

Zhang Yansheng, secretary-general of the National Development and Reform Commission's Academic Committee, said Trump's team is advocating anti-globalization measures and trade protectionism to try to gain an advantage for the U.S..

Trump's team said secretary of state nominee Rex Tillerson would knock China's islands construction program in the South China Sea and its policies on Pyongyang's nuclear program, Reuters reported. Tillerson's confirmation hearing was held on Wednesday.

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[ahojunk]

Business tycoons that will attend Davos 2017
2017-01-13 09:53 | chinadaily.com.cn | Editor: Li Yan

Davos in Switzerland will soon catch the spotlight as business leaders, political leaders, experts and journalists proceed to the 47th Annual Meeting of the World Economic Forum.

The meeting, from January 17 to 20 with the theme of Responsive and Responsible Leadership, is expected to attract more than 2,500 participants from nearly 100 countries.

According to a report from fianance.sina.com.cn, many Chinese business tycoons will attend the event, including Jack Ma, founder and executive chairman of e-commerce giant Alibaba Group Holding Ltd, and Wang Jianlin, chairman of real estate conglomerate Dalian Wanda Group.

Here is a list of some Chinese businessmen that will attend the meeting.

Jack Ma, executive chairman of Alibaba Group (Photo/China News Service)

Wang Jianlin, chairman of Dalian Wanda Group

Sun Yafang, chairwoman of Huawei Technologies. (Photo/Xinhua)

Yang Jie, chairman of China Telecom Co Ltd

Zhang Yaqin, president of Baidu Inc

Fu Chengyu, former chairman of Sinopec Group and a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, at a briefing on Mar 11, 2016. (Photo/China Daily)

Shu Yinbiao, chairman of State Grid Corporation

Qiao Baoping, chairman of China Guodian Corporation

 

[ahojunk]

President of China UnionPay Shi Wenchao (L) (File photo)

Zhang Yichen, chairman of CITIC Capital

Li Ruigang, chairman of China Media Capital

Kai-Fu Lee, chairman of Innovation Works

 

[Goenitz]

jack ma advice..

 

[scherz]

jack ma advice..

Jack Ma is the man!

 

[TaiShang]

China ready to play a leading role in Davos
By Jeremy Garlick Source: Global Times Published: 2017/1/12


For the first time, Chinese President Xi Jinping is going to visit the Swiss ski resort of Davos for the World Economic Forum starting on January 17.

Davos is generally known as an opportunity for the global elites to rub shoulders at lavish parties. It's often seen as a schmooze-fest for the high and mighty, during which major deals with global impacts are struck behind closed doors.

But this year's event appears to be different, not the least because the Chinese president will be attending. The World Economic Forum (WEF) has set an agenda for Davos 2017 which hints at an awareness of the need for leaders to seriously address the need for global change rather than just networking over a glass of champagne.

The official theme for the conference is "Responsive and Responsible Leadership." This slogan indicates that the organizers are cognizant of the fact that they need to be seen by the global public working to solve the problems of today's world.

The official slogan is also in tune with the priorities the Chinese government under Xi's leadership has been setting for itself. Long accused of not being a responsible stakeholder in global affairs, Beijing has been sending strong signals in the last few years, both in words and actions, that it considers China ready to play a leading role in the international community.

Several recent reports reveal, for instance, that China is now by far the largest investor in renewable energy. In 2015, China spent more than $100 billion on developing domestic renewable energy, which is more than twice as much as the US. In addition, Chinese overseas investments in renewables jumped 60 percent in 2016.

Beijing's Belt and Road initiative for expanding trade and improving infrastructure across Asia, Europe and Africa also demonstrates China's serious intent to transform the 21st century world in an unprecedented and game-changing fashion.

This puts China - and President Xi - in a strong position in Davos, particularly given the European Union's trend towards disunity, and uncertainties in the US due to its incoming president Donald Trump. The surprising decision of German Chancellor Angela Merkel not to attend this year further highlights Xi as the leader in negotiations.

The agenda for leaders meeting in Davos gives a preview of what will be discussed. The "five key challenges" listed under the heading of "Responsive and Responsible Leadership" should reassure the global public sphere that this time the WEF is not intended to be simply a junket thrown for tycoons, but a serious discussion of how humanity needs to change direction.

The first challenge is to face up to what the WEF calls the "Fourth Industrial Revolution." This includes the need to engage with technological innovations such as robotics, artificial intelligence, self-driving cars, biotechnology, nanotechnology, quantum computing and 3D printing.

China, although still an emerging economy, has been demonstrating a will to explore new scientific avenues, such as with the launch of the world's first quantum satellite in 2016. Thus, the first item on the agenda is one which Xi, a science graduate of Tsinghua University, will surely be eager to discuss.

The second priority is for leaders to "build a dynamic, inclusive multi-stakeholder global governance system." Since this is absolutely in line with the preference for multipolarity and win-win cooperation which Beijing has been promoting for years already, Xi is likely to be at the forefront of discussions here as well.

The third item on the leaders' agenda is restoring world economic growth. This, it goes without saying, is essential for all stakeholders, not just China; but since China remains the powerhouse of the world economy, and has already taken actions to restructure its economy in the face of domestic challenges such as overcapacity in the industrial sector, this is also a point on which President Xi will wish to take the initiative.

Fourth on the list is the need to "reform market capitalism, and to restore the compact between business and society." Widening wealth and trust gaps between business elites and the working class are of global concern, because they represent a legitimization crisis for the world capitalist system. Faith needs to be restored, and thus the leaders at Davos need to put time into finding ways to build more equal societies and to reduce cronyism and corruption.

The last priority relates to the fourth one, concerning the eroding sense of identity and loss of faith in institutions. As traditional social structures break down under the pressure of globalization, ordinary people suffer from a loss of purpose. This is as much of a concern in China as in the United States and Europe, where electorates demonstrated in 2016 that they are dissatisfied with the way things are progressing (or not progressing) at present.

Since the WEF coincides with the inauguration of the new US president and the departure of the old one, and neither will therefore be present in Davos, Xi is likely to be the star attraction of the conference. Let's hope Xi can translate his celebrity status into an ability to focus minds on the WEF's urgent set of challenges for 2017 and beyond.

The author is a lecturer in international relations, Jan Masaryk Centre for International Studies, University of Economics in Prague. opinion@globaltimes.com.cn

 

[ahojunk]

Things you should know about Annual Meeting of the World Economic Forum
2017-01-13 13:45 | chinadaily.com.cn | Editor:Li Yan

 

[TaiShang]

Number 3 on the President's agenda is an interesting dimension: OBOR-WHO cooperation. I think President Xi will make a strong case of the OBOR in his WEF speech. ​

 

[NakedLunch]

Sums it up quite nicely. One in decline and the other on the rise.

What China has done in the last three or four decades is nothing short of a miracle.