January 16, 2017

"As usual, Davos, a small Swiss town in the Alps, witnesses the annual World Economic Forum this week. The difference is, Chinese President Xi Jinping attended the meeting and delivered a keynote speech this time - the first such appearance by a Chinese head of state in history. The theme of this year's forum is 'Responsive and Responsible Leadership.' Amid the emergence of anti-globalization and protectionism, China attaches more significance to responsibility than leadership in global economic governance.

The world is now standing at a crossroads. Support for trade liberalism is diminishing while trade conflicts are becoming increasingly common. The root cause of the global economic slowdown is backward structural reforms. But countries are more willing to resort to methods with instant effect, such as diluting the value of their currencies, intensifying the contention and division in international markets, which lead to a fragmented global community."

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http://www.globaltimes.cn/content/1029098.shtml

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