Tag: World Economic Forum

China Hopes To Make Its Point at World Economic Forum in Davos, Switzerland

The World Economic Forum (WEF) annual meeting is scheduled to commence from January 17th to 20th in Davos, Switzerland. Many powerful business, political and creative agents will participate in the meeting and share their views in this much awaited economic meeting. The well known intellectual and corporate masterminds of the USA will represent the country at the meeting. This meeting is now crucial as it marks the last week of the president Obama’s administration.

China is hoping to take this opportunity to put down a marker to be identified as the most powerful sovereign agent. China has pinned its hopes to this economic meeting because it is the best opportunity to represent the views of China without any interruption from Donald Trump. The president of China, Xi Jinping, has prepared to attend the meeting and it is the first time that a Chinese leader is attending the annual economic conference. There are lots of expectations that the Chinese president will discuss globalization issues and request for a change in the world order.

The discussion about the presence of Xi started early in May. However, the world economy has undergone two important decisions – Brexit vote and election of Donald Trump. There is a lot of weight on the shoulders of Xi now as he is determined to represent China as one of the responsible countries in tackling climate changes to free trades.

The Chinese president will give a keynote speech about the efforts taken by Beijing to negotiate new trade deals without a greater limitation imposed by the USA. In this year, China is expected to rise as a leader taking up the role of promoting globalization trends, taking the word in the path of economic recovery. According to Sun Ding, a prominent commentator, the role of China becomes even more important as the western countries now follow self-centered approach, preferring more isolation.

Currently, China is not economically and politically strong enough to overrule the USA to become the global phenomenon. However, in Davos, Xi will work hard to present the vision of the Chinese to restore political and economic order in the world. Klaus Schwab, the executive chairman and founder of the economic forum said that globalization is not the sole reason for the increasing demand for identity politics. He commented that technology advancements have made several workers obsolete. He said that the Fourth Industrial Revolution is fast approaching and the only way to survive is to educate and train people to face the new challenges.

Artificial intelligence is at a rapidly developing phase and this can threaten several white collar jobs all over the world. More than 70 countries will be represented in the conference and the US will be represented by Vice President Joe Biden and John Kerry, the Secretary of State. The experts would discuss how Donald Trump will use his property tycoon knowledge to head the United States. If the USA wants to support isolationism in the present economic conditions, China is prepared to put itself to fill the void. The Trump administration will be represented by Anthony Scaramucci in Davos.