Jointly Shoulder Responsibility of Our Times (Davos Address)

Professor Klaus Schwab, Ladies and Gentlemen, Friends: It gives me great pleasure to come to beautiful Davos and attend the World Economic Forum Annual Meeting.

There is a widespread feeling of confusion about the global economy and concern over the direction of world development. Whether we like it or not, the global economy is the big ocean that you cannot escape from.

Any attempt to cut off the flow of capital, technologies, products, industries and people between economies, and channel the waters in the ocean back into isolated lakes and creeks is simply not possible. Indeed, it runs counter to the historical trend.

We should commit ourselves to growing an open global economy to share opportunities and interests through opening-up and achieve win-win outcomes. We should not engage in protectionism or pursue narrow self-interest at the expense of others.

No one will emerge as a winner in a trade war.