China becomes bright spot at uncertain time: SCMP’s ‘Summer Davos’ highlights
The World Economic Forum event was held in an atmosphere of global tension, but attendees did see some hope in China’s tech advancements
For those attending the World Economic Forum’s Annual Meeting of the New Champions this week, “uncertainty” was the inescapable word. It could be found on the lips of almost everyone; senior Chinese officials, global executives, foreign academics and thought leaders from all fields.
This should not come as a surprise. Simmering regional tensions, unpredictable policy pivots from Washington and a foggy picture for global trade were all top of mind as speakers and panelists gathered in the northern Chinese city of Tianjin for the forum, also known as “Summer Davos”.
There, they discussed whether the world will continue to lurch from one crisis to another and how to build consensus in a fraught moment for globalisation. Cross-border investment, structural shifts in China’s economy and supply chain security amid the Israel-Iran conflict were also topics of interest.
Sentiment was not entirely negative, however. Technological advancement stood out as a bright spot, with many praising China’s rapid development of AI and humanoid robotics as an area of vast growth opportunities.
To help readers sift through the hours of discussion, we have gathered standout stories from the Post’s “Summer Davos” coverage below.
1. At ‘Summer Davos’, Li Qiang vows China will be ‘mega-sized’ consumption power
In his keynote address, the premier pledged that China’s consumption growth will be a benefit for the global economy, inviting businesses from overseas to invest and enter the country’s market to share in the gains.