China on track for more growth, Vice-President Wang Qishan tells worried world elite in Davos as he rebukes US ‘bullying’
- Globe’s second-biggest economy certain to deliver modest prosperity for its people by 2020, ‘optimistic’ top official says at World Economic Forum
- Wang told world leaders that they should not ‘interfere’ in other countries’ affairs, and that nationalism, protectionism and populism are to be avoided
Chinese Vice-President Wang Qishan sought to reassure the world’s business and political elite about China’s economy at the World Economic Forum on Wednesday, while also warning other countries against dominating future technologies and making what appeared to be a thinly veiled criticism of the Trump administration’s “bullying” tactics.
Addressing the World Economic Forum in the Swiss ski resort of Davos on Wednesday, Wang said China’s economic growth rate – which last year was 6.6 per cent, the lowest since 1990 – was “not low at all”.
“One thing that is certain is that China’s growth will continue and be sustainable,” he said, after an introduction by Klaus Schwab, the forum’s executive chairman.
“There are all sorts of views, some are saying that China is approaching the end of its growth or we have already reached the end of our growth. If you ask us, we believe that we have not reached the end, we are actually pursuing more sustainable growth.”
Wang also warned against protectionism and unilateralism, apparently referring to US President Donald Trump’s “America-first” policies aimed at China.
“Many countries are increasingly looking inward when making policies; barriers to international trade and investment are increasing; and unilateralism, protectionism and populism are spreading in the world. All these are posing serious challenges to the international order. Will economic globalisation move forward or reverse course?” he said.