Economic globalization has taken center stage at the ongoing World Economic Forum (WEF) in Davos, Switzerland, where world leaders are exploring new avenues for collaboration. Chinese Vice Premier Ding Xuexiang emphasized the importance of globalization in his address on Tuesday, stating that \"protectionism leads nowhere\" and that \"trade war has no winners.\"
\"Economic globalization will bring some tensions and disagreements on distribution. These issues can only be resolved in the process of promoting economic globalization,\" Ding noted, highlighting the need for continued cooperation and openness in global trade.
According to the World Trade Organization, the share of middle- and low-income countries in global exports rose from 16 percent to 32 percent between 1995 and 2022. Developed countries also saw boosted growth rates during this period, supporting Ding's assertion that economic globalization is not a \"you-lose-I-win\" zero-sum game.
Ding called for fostering new drivers of global economic development, emphasizing the role of cutting-edge technologies such as artificial intelligence (AI), quantum technology, and biomedicine. These innovations present opportunities to enhance connectivity and cultivate new productive forces, potentially narrowing the North-South divide that has become increasingly pronounced in recent years.
WEF statistics indicate that 83 percent of executives view AI as a strategic priority for their organizations. To address technological disparities, Ding urged more assistance to developing countries in building AI, smart energy, and other advancements in key livelihood sectors, allowing more nations to \"board the fast train of digital economic development.\"
China, with its core AI industry reaching nearly 600 billion Chinese yuan (approximately $82.5 billion), has actively engaged in global AI governance. Chen Liming, Chair of Greater China at the WEF, highlighted China's collaboration with international organizations to promote cooperation in AI.
As an example, China has proposed the Global AI Governance Initiative to bridge the technology gap and ensure the security of AI. \"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,\" Chen said.
