Chinese Premier Criticizes Western Efforts to Mitigate Global Economic Risks
Chinese Premier Li Qiang criticized Western efforts to “mitigate the risks” of the global economy and called it a “false hypothesis” during the opening of the “Summer Davos” forum in northern China.
Dependency Reduction and Risk Reduction
“In the West, some exaggerate the importance of so-called dependency reduction and risk reduction,” Lee told participating delegates on Tuesday.
He added: “These two concepts are an erroneous hypothesis, because the development of economic globalization has made the world economy a single entity in which you and I are intertwined … The economies of many countries intermingle with each other, depend on each other, succeed through each other and develop together\”.
“In fact, this is good, not bad,” he stressed.
China’s Growth Target
On the other hand, Li Qiang said that China is close to meeting the growth target set for the current year, despite the slow recovery of the second world economy.
China’s gross domestic product grew 3% last year, far from the official target of 5.5% and one of the slowest numbers in four decades.
In 2023, the government has set a growth target of “about 5%”.
The “Davos Summer” Forum
Known as the “Davos Summer”, the World Economic Forum meeting in the coastal city of Tianjin is the first after a three-year hiatus due to the Covid epidemic and will run until Thursday.
Source: AFP.
Chinese Premier Criticizes Western Efforts to Mitigate Global Economic Risks
Chinese Premier Li Qiang criticized Western efforts to “mitigate the risks” of the global economy and called it a “false hypothesis” during the opening of the “Summer Davos” forum in northern China.
Dependency Reduction and Risk Reduction
“In the West, some exaggerate the importance of so-called dependency reduction and risk reduction,” Lee told participating delegates on Tuesday.
He added: “These two concepts are an erroneous hypothesis, because the development of economic globalization has made the world economy a single entity in which you and I are intertwined … The economies of many countries intermingle with each other, depend on each other, succeed through each other and develop together\”.
“In fact, this is good, not bad,” he stressed.
China’s Growth Target
On the other hand, Li Qiang said that China is close to meeting the growth target set for the current year, despite the slow recovery of the second world economy.
China’s gross domestic product grew 3% last year, far from the official target of 5.5% and one of the slowest numbers in four decades.
In 2023, the government has set a growth target of “about 5%”.
The “Davos Summer” Forum
Known as the “Davos Summer”, the World Economic Forum meeting in the coastal city of Tianjin is the first after a three-year hiatus due to the Covid epidemic and will run until Thursday.
Source: AFP.
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