Experts Interpret Xi Jinping's Davos Speech: Inject Confidence into the Global Economy

"This is the responsibility of the leaders of our time, and it is the expectation of the people of all countries."

At the opening ceremony of the 2017 annual meeting of the World Economic Forum, which opened on the 17th, President Xi Jinping delivered a keynote speech entitled "Sharing the responsibility of the times to promote global development", calling on all countries in the world to take the initiative, moderate management, and let the economy globalize. The positive effects are more released, and the process of economic globalization is rebalanced; it is necessary to conform to the general trend and combine national conditions, and correctly choose the path and rhythm of integration into economic globalization; we must focus on efficiency, focus on fairness, and let different countries, different strata, and different groups of people Sharing the benefits of economic globalization.

The applause thundered.

Schwab, founder and executive chairman of the World Economic Forum, said that in the context of the complex world and uncertainties in the world today, President Xi Jinping’s visit to the World Economic Forum’s annual meeting and speeches is of great historical significance. Zhao Jinping, Minister of Foreign Economic Affairs of the Development Research Center of the State Council, pointed out that while China's development is improving the well-being of its people, it also brings opportunities to countries and injects global confidence into the global economy.

Systematic interpretation of globalization in general confusion

Under the current global economic downturn, in the face of uncertainty, the public is generally confused, and anti-globalization trends are on the rise. "The President Xi system explains the advantages and disadvantages of globalization, and it is refreshing," said Huo Jianguo, vice president of the China World Trade Organization Research Association.

Xi Jinping pointed out that economic globalization is the objective requirement of the development of social productive forces and the inevitable result of scientific and technological progress. Economic globalization has provided a powerful impetus for world economic growth, promoting the flow of goods and capital, the advancement of science and technology and civilization, and the exchanges between people of all countries. Economic globalization has indeed brought new problems, but simply blaming the problems that plague the world on economic globalization is neither in line with the facts nor helpful.

Zhao Jinping, Minister of Foreign Economic Affairs of the Development Research Center of the State Council, pointed out that "in fact, globalization is still the mainstream consensus of the international community. Under the trend of globalization, there is widespread concern. At this time, China has demonstrated its continued support for globalization. It was a positive response to the worries and it resonated. The applause at the scene can explain this."

So, what is the root cause of the current long-term downturn in the world economy? Xi Jinping further shared his views. He believes that there are three reasons: First, the global growth momentum is insufficient, it is difficult to support the sustained and steady growth of the world economy; second, the global economic governance is lagging behind, it is difficult to adapt to the new changes in the world economy; third, the global development imbalance, it is difficult to meet people's expectations for a better life.

"This can be said to be a useful hint under the general confusion of all walks of life." Zhao Jinping said.

Explain the Chinese program to seek consensus to advance action

In the face of the challenges brought by the world economy, Xi Jinping not only showed China's positive stance in his speech, but also put forward specific development action proposals.

Xi Jinping pointed out that we must adhere to the drive of innovation and create a dynamic growth model. Second, we must adhere to synergy and create an open and win-win cooperation model. Third, we must adhere to the times and create a fair and reasonable governance model. Fourth, we must adhere to fairness and tolerance. To create a balanced development model of Pratt & Whitney.

Huo Jianguo pointed out that in fact, the influence of China's development concept on the world is rising. The five major developments of “Innovation, Coordination, Green, Openness, and Sharing” in China's “Thirteenth Five-Year Plan” are now not only well-known in China, but also gradually recognized in the international arena through international occasions such as G20 and APEC.

Xu Hongcai, deputy chief economist of China International Economic Exchange Center, further pointed out: "At the G20 summit, some of China's policy concepts have been integrated into the G20's achievements, especially regarding policy coordination among major powers. China's plan for structural reforms. Among them, some key areas and indicator systems are also consistent with the UN 2030 Agenda for Sustainable Development. This is tantamount to combining China's practices and experiences with global challenges and policy objectives. This can be translated into the international community. Actions contribute to a balanced, sustainable and inclusive growth globally, and in the process, China’s influence is gradually being demonstrated.”

Demonstrate China Power to inject confidence into the global economy

Huo Jianguo said, "The reason why President Xi’s speech can be so vocal is because the national economy is emboldened."

Xi Jinping emphasized that the long-term fundamentals of the Chinese economy have not changed. Under the guidance of the development concept of innovation, coordination, green, openness and sharing, we will constantly adapt, grasp and lead the new normal of China's economic development, and make overall plans to stabilize growth, promote reform, adjust structure, benefit the people's livelihood, and prevent risks. Promote China's economy to maintain medium-to-high-speed growth and move to the mid-to-high end level.

Xi Jinping is still giving a set of data in his speech. "It is estimated that in the next five years, China will import 8 trillion US dollars of goods and absorb 600 billion US dollars of foreign investment. The total foreign investment will reach 750 billion US dollars, and the number of outbound tourism will reach 700 million. This will provide a wider range of countries around the world. Market, more abundant capital, more abundant products, more valuable cooperation opportunities."

"China's development has brought opportunities to all countries while improving the well-being of its people. This set of data not only gives China confidence, but also injects global confidence into the global economy." Zhao Jinping said.

Zhu Min, dean of the National Finance Research Institute, who heard the speech at the scene, observed that Xi Jinping’s series of commitments in his speech made the participants excited.

Xi Jinping said that China will focus on improving the quality and efficiency of economic growth, transforming the economic development mode and optimizing the economic structure around the main line of supply-side structural reform; China will continue to stimulate growth momentum and market vitality, and intensify reforms in key areas and key links. The strength will make the market play a decisive role in resource allocation; China will actively create a loose and orderly investment environment and relax foreign investment access; China will vigorously build a common development pattern of opening up, "will not take the initiative to fight the currency war."

Sharing China's opportunities to promote collaboration is more important

Xi Jinping emphasized that China's development is an opportunity for the world. China is a beneficiary of economic globalization and a contributor. China's rapid economic growth has provided a sustained and strong impetus to global economic stability and growth. The coordinated development of China's same large number of countries has made the global economic development more balanced. The tremendous achievements of China's poverty reduction cause make global economic growth more inclusive. The continuous advancement of China's reform and opening up has provided an important impetus for the development of an open world economy.

"The Chinese people welcome the people of all countries to take the 'fast train' and 'free ride' developed by China."

The scene was again applauded. "This is the approval of China's open concept and is the embodiment of the big country." Zhao Jinping said.

"It must be seen that China still has to focus on its own development. In international affairs, it is only an active participant and not a leader." Xu Hongcai said, "So President Xi called on the parties in his speech. Collaborate and work together to advance these efforts.” “As a big country with an economic aggregate of more than 10 trillion US dollars, China naturally faces the expectations of the international community for a responsible big country. Although China always believes that it is good to do its own thing, it is A major contribution to the development of the world, but we cannot afford to assume international responsibilities and obligations at all. How can we be respected? We can’t be busy with the outside world, and we don’t spend 90% of our time on the domestic market. Therefore, dealing with the relationship between domestic development and opening up and dealing with China's interests and global interests is a problem that China must face at this stage." Zhang Yansheng, chief researcher of China International Economic Exchange Center, pointed out.

According to Zhu Min’s observation, President Xi’s appeal from the community of human destiny also resonated with the participants. Xi Jinping said that as long as we firmly establish the community consciousness of human destiny, work together and work together to help each other and overcome difficulties, we will certainly make the world a better place and make people more happy.