Chinese Premier Emphasizes "No Participation in De-risking" at Summer Davos Forum

Summer Davos Forum to be Held in Tianjin, China After 4 Years

Chinese Premier Li Chang stated at the Summer World Economic Forum (WEF) Annual Meeting (Summer Davos Forum) that governments around the world should not join in the 'de-risking' aimed at containing China by the United States.

Premier Li, delivering the keynote speech at the opening ceremony of the WEF Annual Meeting held on the 27th in Tianjin, China, said, "When risks arise in the industrial network, no government or related organization can solve it by stepping in," adding, "Businesses are the most sensitive to economic and industrial risk detection, and since businesses have the greatest say, it is appropriate for them to make judgments and choices."

[Image source=Yonhap News]

At this occasion, Premier Li stated, "It is not a matter for governments and related organizations to guarantee and intervene, and moreover, de-risking should not be expanded, politicized, ideologized, or generalized," and insisted, "We must conform to the trend of the times, further consolidate consensus on development, and firmly build an open world economy." He added, "We resolutely oppose artificially politicizing economic and trade issues."

He also mentioned the stabilization of the global supply chain. He emphasized, "We must jointly protect the global industrial and supply chains," and "We should maintain the safety, stability, and smooth flow of supply chains so that the benefits of economic globalization's development achievements are more fairly shared among countries and their people."

The Summer Davos Forum is an event held annually since 2007, alternating between Dalian in Liaoning Province and Tianjin, as China seeks to lead discussions on the world economy and global issues. It was suspended due to the COVID-19 pandemic after the 13th meeting held in Dalian in 2019 and resumed after four years.

This year's event runs until the 29th under the theme "Entrepreneurship: The Driving Force of the Global Economy." Over 1,500 participants from 90 countries, including current and former politicians, international organization officials, industry and media figures, experts, and scholars, are attending. From Korea, Incheon Mayor Yoo Jeong-bok, whose city has a sister-city relationship with Tianjin, is participating.

This content was produced with the assistance of AI translation services.