The World Economic Forum (WEF) 2022 Annual Meeting has just concluded in Davos, Switzerland, and many countries are easing their Covid-19 restrictions. Themed “Working Together, Restoring Trust,” the meeting discussed topics including pandemic recovery, tackling climate change and improving the future for work. Its theme and topics are all of great practical significance. At present, the world faces an array of shared post-pandemic challenges which place demands on nations to increase their mutual trust and cooperation. Cooperation and competition are two sides of the same coin. How China should better position itself in the midst of the ongoing global economic changes has become a matter of great concern for its public.
In the first quarter of 2022, global economic growth slowed, and financial market volatility heightened, due to Covid-19 outbreaks, intensifying geopolitical conflict and tightening monetary policies in developed economies. Last month, the International Monetary Fund, Organization for Economic Co-operation and Development, World Bank and other international institutions slashed their forecasts for global economic growth in 2022. The Institute of International Finance also halved its forecast, to 2.3 percent, recently. But the global economic picture is patchy. The developed world has seen inflation surge after an unusual economic boom, with unemployment at a relatively low level. By contrast, quite a few developing countries are facing daunting challenges, including rising inflation and capital outflows. The global economic recovery is uneven, and the outlook even more complex.
