Economic globalization is taking center stage at the World Economic Forum (WEF) in Davos, Switzerland, as world leaders converge to explore innovative pathways for international collaboration.
Chinese Vice Premier Ding Xuexiang emphasized the importance of economic globalization, stating, \"Economic globalization will bring some tensions and disagreements on distribution. These issues can only be resolved in the process of promoting economic globalization. Protectionism leads nowhere. Trade war has no winners.\"
Supporting this view, data from the World Trade Organization reveals that between 1995 and 2022, the share of middle- and low-income countries in global exports doubled from 16 percent to 32 percent. Developed countries have also benefited, highlighting that economic globalization is not a zero-sum game where one side loses and the other wins.
To further expand the benefits of economic globalization, Ding advocated for the development of new drivers such as artificial intelligence (AI), quantum technology, and biomedicine. These cutting-edge technologies offer opportunities to enhance global connectivity and foster the growth of new quality productive forces.
According to WEF statistics, 83 percent of executives consider AI a strategic priority for their organizations. However, the technological divide between the North and South has been widening, posing challenges to inclusive economic growth.
Addressing this issue, Ding called for increased support to developing countries in building AI capabilities, smart energy solutions, and advancements in key sectors. This initiative aims to enable more nations to participate in the rapid advancements of the digital economy.
China, with its core AI industry valued at nearly 600 billion Chinese yuan ($82.5 billion), is actively participating in global AI governance. Chen Liming, chair of Greater China at the WEF, highlighted China's collaboration with the WEF and other international organizations to promote cooperative efforts.
One notable effort is China's Global AI Governance Initiative, designed to bridge the technology gap and ensure the security of AI. Chen stated, \"This initiative is not only a positive response to global challenges but also provides an important reference for the international community on the issue of AI governance.\"
Reference(s):
cgtn.com
