Davos 2024 Unveiled: Premier Li Qiang’s Vision for Rebuilding Trust Globally

The World Economic Forum (WEF) is a renowned international organization that brings together global leaders from various sectors to discuss and address pressing issues related to the global economy. Held annually in Davos, Switzerland, WEF’s flagship event gathers government officials, business leaders, academics, and other influential figures to collaborate on shaping policies, fostering economic growth, and promoting public-private cooperation. The forum serves as a platform for dialogue, networking, and exchanging ideas, contributing to formulating strategies to address global challenges and foster sustainable development.

In this year’s address, the People’s Republic of China’s Premier Li Qiang highlighted the theme “Rebuilding Trust.” His speech explored the forum’s theme in its historical context, erosion, and the need for nations to collaborate for a brighter future. Having center stage, Li highlighted China’s Five Proposals as a roadmap for rebuilding global unity. These pillars emphasize diplomatic sincerity, enhanced global economic coordination, and collective efforts for sustainable development.

Beginning with a strengthened macroeconomic policy for global interconnectedness, emphasizing dialogue and collaboration, upholding the multilateral trading system, improving global economic governance, and fostering new global growth drivers.

The second proposal focuses on international industrial specialization and collaboration, addressing discriminatory trade measures, urging nations to respect international industrial specialization laws, facilitate trade and investment, tighten cooperation, and enhance global industrial and supply chain stability.

The third proposal stressed international cooperation in science and technology for humanity’s benefit. Acknowledging “coopetition” relationship in the technological revolution, he urged nations to collaborate openly, fostering innovation unhindered by restrictions on other countries’ development.

The fourth proposal’s focus was tackling climate change, urging nations to strengthen green development cooperation. Premier Li called for upholding common but differentiated responsibilities, removing barriers to green trade, and collectively transitioning to a greener economy.

The fifth and final proposal highlighted North-South and South-South cooperation for a universally beneficial world economy. He advocated for implementing the U.N. 2030 Agenda for Sustainable Development to address developing countries’ challenges and bridge development gaps. Li underscored the importance of the Chinese market, rapidly unlocking vast global demand and a steadfast commitment to open collaboration.