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People's Daily Online>>China Business

World seeks to find ‘good medicines’ from China's economy

(The Economic Daily)

13:40, February 01, 2012

Edited and translated by People's Daily Online

China again became a hot topic of discussion at the World Economic Forum Annual Meeting 2012 closed in the Swiss town of Davos on Jan. 29.

The meeting was attended by more than 2,600 economists and political and business leaders from all over the world, and held under the theme, "The Great Transformation: Shaping New Models." With over 250 sessions,。

The meeting had four sub-themes: Growth and Employment Models, Leadership and Innovation Models, Sustainability and Resource Models, and Social and Technological Models.

Many sessions of the annual meeting were about Asia's development, with up to seven small sessions directly about China, including "China's Great Transformation," "China's Economic Outlook," and "Euro, Dollar, and Yuan."

Before the annual meeting 2012, Klaus Schwab, founder of the World Economic Forum, had said, "Capitalism, in its current form, no longer fits the world around us."

The organizers chose "The Great Transformation: Shaping New Models" as the theme of this year's annual meeting in order to explore new models for global economic development.

In recent years, the whole world has witnessed China's high-speed economic growth. China's successful methods of coping with the international financial crisis have also offered valuable experience for the global economic development to refer to.

Therefore, it is not hard to understand that the annual meeting of the forum regarded China's economy as the main content while discussing the "transformation" and "rebuilding a new mode." People all want to find "good medicines" from China's economy to solve current global economic issues.

Meanwhile, Asia's high-speed development of recent years has also attracted much global attention. In this annual meeting, participators particularly discussed Asia's development mode. They generally believe that the rapid development of Asia is a good object of reference for the old global economic development mode and they should learn something from it to find solutions for current global economic issues.

Enterprisers participating in the meeting all expressed their full confidences on Asia's, especially China's economic development. Many of them said that emerging markets like China will be main investment targets of many multinational enterprises.

China's great economic vigor looks extremely eye-catching under the background of global economic gloomy. In recent years, many multinational enterprises' branch companies in China made very outstanding achievements, which full indicates that China's economy has an amazingly large development potential.

Experts participating in the meeting believe that China and other emerging economies will be decisive factors in rebuilding the global economic development mode.

Relevant data show that, according to the purchasing power, the total GDP of emerging markets and developing economies accounted for more than 49 percent of total global GDP and was almost equal to the total GDP of developed countries in 2011. Therefore, in the course of transformation, emerging economies will be a very important force that cannot be ignored.


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