Optimism driven by globalization was the key message of China's leading businessmen as they attended this year's World Economic Forum hosted by the Sunstar Hotel in Davos, Switzerland.
Chair of Guangzhou's Cedar Holdings, Zhang Jin, was among the Chinese businessmen who shared his optimistic view of the global economy for 2019, CNBC News reported. For Zhin, there is still hope for a miracle to happen. "During the last four decades of opening up, for every eight to 10 years, we would hear such pessimistic views, but out central government has always created miracles," he said.
Zhang and other Chinese businessmen who joined the forum this year all agreed that globalization is one of the key points for international economic growth. For them, it is important to strengthen trade ties with other countries as it could allow Asia's most successful economy to encourage growth across the world.
The main goal is to enhance the supply chain on a global note by means of building a strong bond between local Chinese suppliers and international partners. Chinese business leaders explained that this strategy will open doors for a global network that would benefit the world market.
Furthermore, Zhang discussed the importance of pushing through with China's Greater Bay Area, a project that aims to combine southern Guangdong provinces with Macau and Hong Kong. He added that the program will establish the foundation for the Belt and Road Initiative backed by Chinese President Xi Jinping.
Zhang reiterated that the Greater Bay Area project is just the perfect pivotal point for China's goal of becoming a global market leader in the coming years. The Belt and Road Initiative, on the other hand, will further support "Made in China," Chinese Premier Li Keqiang's strategic plan that will develop the country's manufacturing prowess.
According to an update from the World Economic Forum's official blog, Chinese Vice-President Wang Quishan was also present at the conference. He echoed the comments of Zhang and Chinese business leaders.
In his speech, Wang shared that China's economy will continue to pursue sustainable growth that could help battle a slowing global economy as predicted by the World Bank earlier this month.
Wang and Zhang's statements come in the midst of a trade truce between China and the U.S. Xi and U.S. President Donald Trump's December summit failed to produce a trade deal which then led to the tariff truce that will end in March. If no deal is reached by then, Trump said the United States will increase tariffs by up to 25 percent on $250 billion Chinese goods.
