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Global cooperation for world economy in post-crisis era

(People's Daily Online)    10:47, January 30, 2015

Before the opening ceremony of the 2015 annual meeting of World Economic Forum (WEF) held in Davos, some compared the present economic situation with the situation following the international financial crisis in 2009. Klaus Schwab, executive Chairman of WEF, said that people can find risks in every corner of the world.

There are two characteristics in the world economy. One is unpredictability - while some countries are experiencing deflation, others are experiencing inflation. Some big economies have done everything possible to restore their economy. Moreover, most countries are experiencing weak demand and severe unemployment.

Risks tend to spread easily due to economic globalization. Regional risks could lead to global crisis. Therefore, international cooperation is urgently needed in the present situation.

No single force can drive the world economy at present. The world should focus on finding new engines for internal development at a regional level, and on improving global economic governance. To achieve sustainable international economic development is to find a comprehensive development approach but not to consolidate the dominance of some big economies in global economic and financial industries. In this course, everyone should strive to come up with win-win policies.

Support from developed economies will drive the quality of global cooperation, sweep out protectionism and reduce risks.

The article is translated and edited from 《世界经济也要“滑雪三要素”》,source: People's Daily 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yuan Can,Yao Chun)

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