China attracts more attention due to growing weight in global matters: Schwab

Source:Xinhua Published: 2015-1-19 17:09:12

Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), has said that China is attracting more and more global attention given its growing weight in global matters and reaffirmed his optimistic expectations on China's economy.

Schwab made the remarks in a written interview with Xinhua in advance of the upcoming WEF Annual Meeting 2015, scheduled from Jan. 21 to 24 at Davos in northeastern Switzerland will explore solutions to major world challenges under the theme "The New Global Context".

When asked about how to define a new context for the world, Schwab explained that in current global landscape, complexity, fragility and uncertainty were on the rise.

"We are confronted by profound political, economic, social and, above all, technological transformations. They are altering long-standing assumptions about our prospects, resulting in entirely new parameters for decision-making," he said.

The forthcoming meeting is to be framed around 10 major global challenges pending solutions, according to WEF.

Schwab named rising income disparity and social inequality, less cooperation on geopolitical matters as well as climate change and its potentially devastating impact as ones among the most pressing challenges.

Referring to China, he hailed its rapid speed of development and the profound cooperation between the country and the forum.

"I'm proud that the Forum has been a trusted partner, most visibly by organizing the Annual Meeting of the New Champions, or 'Summer Davos', in Dalian and Tianjin. This is the largest and most important meeting of the World Economic Forum outside of Davos", Schwab told Xinhua.

"With China's growing weight in global matters, it is only logical that the interest in the country's political path, economic development and the evolution of its social model is growing around the world as well," he further stressed.

Schwab reiterated his optimistic expectations on the outlook of China's economy.

"Even with 7 percent growth - the government's target for 2015 - China is likely to remain the largest contributor to global economic growth. That is impressive, considering many of China's key trade partners, including Europe and Russia, are experiencing sluggish growth. It is also a sign of the strength of China's growing internal demand," said Schwab.

Anti-corruption is listed by WEF among the ten clearly defined challenges.

"Corruption hampers growth, weakens institutions and creates unfair and illegal imbalances in societies. The rule of law is an essential building block to any just and prosperous society and economy," he noted.

Over 2,500 participants from more than 140 countries and regions representing business, government, international organizations, academia, civil society and the media are expected to attend the four-day Davos meeting featuring 280 sessions and workshops.

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