WEF chair expresses confidence in Chinese economy
Time:2024-05-21 09:03:05 Source:healthViews(143)
World Economic Forum (WEF) Executive Chairman Klaus Schwab expressed confidence in the future of the Chinese economy during an interview with CGTN at the WEF Annual Meeting in Davos, Switzerland.
Klaus Schwab, founder and executive chairman of the WEF, receives interview with CGTN. (Photo/CGTN)
Schwab said he visited China in 1979 and was impressed by its economic development journey since then. At that time, China's GDP was more than 100 times lower than it is now, and its trade volume showed an even larger difference. Schwab observed that China has transformed from an underdeveloped country to a leader in many technologies.
Despite some opinions suggesting that China's economic development has reached its peak, Schwab believes China will effectively respond to challenges such as an aging society, debt, and the real estate market. He is confident that China will discover new patterns of economic growth.
While China's GDP has grown to represent 20 percent of the global GDP, its per capita GDP remains lower than that of most developed nations, indicating potential for further development, economic growth and dynamism, according to Schwab.
"All countries at the moment go through difficult economic times for different reasons, but I feel China will have the wisdom to address the particular challenges, which are facing the Chinese economy," said Schwab.
The WEF Annual Meeting was held from Jan. 15 to 19, 2024.
Previous:Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
Next:Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
You may also like
- Iran helicopter crash that killed President Raisi could reverberate across the Middle East
- Ship that struck Baltimore bridge had 4 blackouts before disaster
- Tragic toddler, three, drowned in the bath after switching the taps on at home, inquest hears
- Texas man accused of killing New Mexico women and kidnapping an infant faces federal charge
- Ricky Stenhouse punching Kyle Busch could lead to suspension
- Cannes Film Festival: Chris Hemsworth looks loved
- Japan's economy shrank more than expected in the first quarter
- South China Sea: Filipino activists decide not to sail closer to disputed shoal
- Company wins court ruling to continue development of Michigan factory serving EV industry