达沃斯讲话英文版.docx

达沃斯讲话英文版.docx

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达沃斯讲话英文版

JointlyShoulderResponsibilityofOurTimes,PromoteGlobalGrowth

KeynoteSpeechAttheOpeningSessionoftheWorldEconomicForumAnnual

byH.E.XiJinpingPresidentofthePeople’sRepublicofChina

Davos,17January2017

PresidentDorisLeuthardandMr.RolandHausin,

HeadsofStateandGovernment,DeputyHeadsofStateandYourSpouses,

HeadsofInternationalOrganizations,

Dr.KlausSchwabandMrs.HildeSchwab,

LadiesandGentlemen,DearFriends,

I’mdelightedtocometobeautifulDavos.ThoughjustasmalltownintheAlps,Davosisanimportantwindowfortakingthepulseoftheglobaleconomy.Peoplefromaroundtheworldcomeheretoexchangeideasandinsights,whichbroadentheirvision.ThismakestheWEFannualmeetingacost-effectivebrainstormingevent,whichIwouldcall“Schwabeconomics”.

“Itwasthebestoftimes,itwastheworstoftimes.”ThesearethewordsusedbytheEnglishwriterCharlesDickenstodescribetheworldaftertheIndustrialRevolution.Today,wealsoliveinaworldofcontradictions.Ontheonehand,withgrowingmaterialwealthandadvancesinscienceandtechnology,humancivilizationhasdevelopedasneverbefore.Ontheotherhand,frequentregionalconflicts,globalchallengesliketerrorismandrefugees,aswellaspoverty,unemploymentandwideningincomegaphavealladdedtotheuncertaintiesoftheworld.

Manypeoplefeelbewilderedandwonder:

Whathasgonewrongwiththeworld?

Toanswerthisquestion,onemustfirsttrackthesourceoftheproblem.Someblameeconomicglobalizationforthechaosintheworld.EconomicglobalizationwasonceviewedasthetreasurecavefoundbyAliBabainTheArabianNights,butithasnowbecomethePandora’sboxintheeyesofmany.Theinternationalcommunityfindsitselfinaheateddebateoneconomicglobalization.

Today,Iwishtoaddresstheglobaleconomyinthecontextofeconomicglobalization.

ThepointIwanttomakeisthatmanyoftheproblemstroublingtheworldarenotcausedbyeconomicglobalization.Forinstance,therefugeewavesfromtheMiddleEastandNorthAfricainrecentyearshavebecomeaglobalconcern.Severalmillionpeoplehavebeendisplaced,andsomesmallchildrenlosttheirliveswhilecrossingtheroughsea.Thisisindeedheartbreaking.Itiswar,conflictandregionalturbulencethathavecreatedthisproblem,anditssolutionliesinmakingpeace,promotingreconciliationandrestoringstability.Theinternationalfinancialcrisisisanotherexample.Itisnotaninevitableoutcomeofeconomicglobalization;rather,itistheconsequenceofexcessivechaseofprofitbyfinancialcapitalandgravefailureoffinancialregulation.Justblamingeconomicglobalizationfortheworld’sproblemsisinconsistentwithreality,anditwillnothelpsolvetheproblems.

Fromthehistoricalperspective,economicglobalizationresultedfromgrowingsocialproductivity,andisanaturaloutcomeofscientificandtechnologicalprogress,notsomethingcreatedbyanyindividualsoranycountries.Economicglobalizationhaspoweredglobalgrowthandfacilitatedmovementofgoodsandcapital,advancesinscience,technologyandcivilization,andinteractionsamongpeoples.

Butweshouldalsorecognizethateconomicglobalizationisadouble-edgedsword.Whentheglobaleconomyisunderdownwardpressure,itishardtomakethecakeofglobaleconomybigger.Itmayevenshrink,whichwillstraintherelationsbetweengrowthanddistribution,betweencapitalandlabor,andbetweenefficiencyandequity.Bothdevelopedanddevelopingcountrieshavefeltthepunch.Voicesagainstglobalizationhavelaidbarepitfallsintheprocessofeconomicglobalizationthatweneedtotakeseriously.

AsalineinanoldChinesepoemgoes,“Honeymelonshangonbittervines;sweetdatesgrowonthistlesandthorns.”Inaphilosophicalsense,nothingisperfectintheworld.Onewouldfailtoseethefullpictureifheclaimssomethingisperfectbecauseofitsmerits,orifheviewssomethingasuselessjustbecauseofitsdefects.Itistruethateconomicglobalizationhascreatednewproblems,butthisisnojustificationtowriteeconomicglobalizationoffcompletely.Rather,weshouldadapttoandguideeconomicglobalization,cushionitsnegativeimpact,anddeliveritsbenefitstoallcountriesandallnations.

TherewasatimewhenChinaalsohaddoubtsabouteconomicglobalization,andwasnotsurewhetheritshouldjointheWorldTradeOrganization.Butwecametotheconclusionthatintegrationintotheglobaleconomyisahistoricaltrend.Togrowitseconomy,Chinamusthavethecouragetoswiminthevastoceanoftheglobalmarket.Ifoneisalwaysafraidofbracingthestormandexploringthenewworld,hewillsoonerorlatergetdrownedintheocean.Therefore,Chinatookabravesteptoembracetheglobalmarket.Wehavehadourfairshareofchokinginthewaterandencounteredwhirlpoolsandchoppywaves,butwehavelearnedhowtoswiminthisprocess.Ithasprovedtobearightstrategicchoice.

Whetheryoulikeitornot,theglobaleconomyisthebigoceanthatyoucannotescapefrom.Anyattempttocutofftheflowofcapital,technologies,products,industriesandpeoplebetweeneconomies,andchannelthewatersintheoceanbackintoisolatedlakesandcreeksissimplynotpossible.Indeed,itrunscountertothehistoricaltrend.

Thehistoryofmankindtellsusthatproblemsarenottobefeared.Whatshouldconcernusisrefusingtofaceuptoproblemsandnotknowingwhattodoaboutthem.Inthefaceofbothopportunitiesandchallengesofeconomicglobalization,therightthingtodoistoseizeeveryopportunity,jointlymeetchallengesandcharttherightcourseforeconomicglobalization.

AttheAPECEconomicLeaders’Meetinginlate2016,Ispokeaboutthenecessitytomaketheprocessofeconomicglobalizationmoreinvigorated,moreinclusiveandmoresustainable.Weshouldactpro-activelyandmanageeconomicglobalizationasappropriatesoastoreleaseitspositiveimpactandrebalancetheprocessofeconomicglobalization.Weshouldfollowthegeneraltrend,proceedfromourrespectivenationalconditionsandembarkontherightpathwayofintegratingintoeconomicglobalizationwiththerightpace.Weshouldstrikeabalancebetweenefficiencyandequitytoensurethatdifferentcountries,differentsocialstrataanddifferentgroupsofpeopleallshareinthebenefitsofeconomicglobalization.Thepeopleofallcountriesexpectnothinglessfromus,andthisisourunshirkableresponsibilityasleadersofourtimes.

Atpresent,themostpressingtaskbeforeusistosteertheglobaleconomyoutofdifficulty.Theglobaleconomyhasremainedsluggishforquitesometime.ThegapbetweenthepoorandtherichandbetweentheSouthandtheNorthiswidening.Therootcauseisthatthethreecriticalissuesintheeconomicspherehavenotbeeneffectivelyaddressed.

First,lackofrobustdrivingforcesforglobalgrowthmakesitdifficulttosustainthesteadygrowthoftheglobaleconomy.Thegrowthoftheglobaleconomyisnowatitsslowestpaceinsevenyears.GrowthofglobaltradehasbeenslowerthanglobalGDPgrowth.Short-termpolicystimuliareineffective.Fundamentalstructuralreformisjustunfolding.Theglobaleconomyisnowinaperiodofmovingtowardnewgrowthdrivers,andtheroleoftraditionalenginestodrivegrowthhasweakened.Despitetheemergenceofnewtechnologiessuchasartificialintelligenceand3Dprinting,newsourcesofgrowthareyettoemerge.Anewpathfortheglobaleconomyremainselusive.

Second,inadequateglobaleconomicgovernancemakesitdifficulttoadapttonewdevelopmentsintheglobaleconomy.MadameChristineLagarderecentlytoldmethatemergingmarketsanddevelopingcountriesalreadycontributeto80%ofthegrowthoftheglobaleconomy.Theglobaleconomiclandscapehaschangedprofoundlyinthepastfewdecades.However,theglobalgovernancesystemhasnotembracedthosenewchangesandisthereforeinadequateintermsofrepresentationandinclusiveness.Theglobalindustriallandscapeischangingandnewindustrialchains,valuechainsandsupplychainsaretakingshape.However,tradeandinvestmentruleshavenotkeptpacewiththesedevelopments,resultinginacuteproblemssuchasclosedmechanismsandfragmentationofrules.Theglobalfinancialmarketneedstobemoreresilientagainstrisks,buttheglobalfinancialgovernancemechanismfailstomeetthenewrequirementandisthusunabletoeffectivelyresolveproblemssuchasfrequentinternationalfinancialmarketvolatilityandthebuild-upofassetbubbles.

Third,unevenglobaldevelopmentmakesitdifficulttomeetpeople’sexpectationsforbetterlives.Dr.SchwabhasobservedinhisbookTheFourthIndustrialRevolutionthatthisroundofindustrialrevolutionwillproduceextensiveandfar-reachingimpactssuchasgrowinginequality,particularlythepossiblewideninggapbetweenreturnoncapitalandreturnonlabor.Therichestonepercentoftheworld’spopulationownmorewealththantheremaining99percent.Inequalityinincomedistributionandunevendevelopmentspaceareworrying.Over700millionpeopleintheworldarestilllivinginextremepoverty.Formanyfamilies,tohavewarmhouses,enoughfoodandsecurejobsisstilladistantdream.Thisisthebiggestchallengefacingtheworldtoday.Itisalsowhatisbehindthesocialturmoilinsomecountries.

Allthisshowsthatthereareindeedproblemswithworldeconomicgrowth,governanceanddevelopmentmodels,andtheymustberesolved.ThefounderoftheRedCrossHenryDunantoncesaid,“Ourrealenemyisnottheneighboringcountry;itishunger,poverty,ignorance,superstitionandprejudice.”Weneedtohavethevisiontodissectthese