2023 Summer Davos Forum to land in Tianjin! Here are six highlights

The 14th World Economic Forum Annual Meeting of the New Champions 2023 (Summer Davos Forum) will be held in Tianjin on June 27-29. The theme of the forum is "Entrepreneurship: The Driving Force of the Global Economy".

At the time, around 1,500 high-level officials from governments, businesses, social organizations, international organizations, and academia from over 90 countries and regions will gather together to provide new impetus for innovation and entrepreneurship, promote growth, and shape a more equitable, sustainable, and resilient global economy.

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Currently, the global economy is at a critical period of transformation. How will this year"s Summer Davos Forum promote global economic growth in the post-pandemic era? National Business Daily (NBD) has summarized the highlights of this year"s forum around six core themes.

Photo/website of World Economic Forum

Highlight 1: How to achieve green transformation and restart growth?

By 2023, inflation in the US and Europe will continue to be high, the conflict between Russia and Ukraine will continue to ferment, a global debt crisis will loom, and global issues such as energy and food shortages and climate crises will still be present, posing significant challenges to the world economy. The key to the future is to take advantage of the situation and reactivate the global trade system to promote more sustainable and fair economic growth.

The transformation of the world economy can help economic development break away from its dependence on resource consumption. Innovative green industries and technologies are not only key factors in promoting a just transition, but also the key to achieving long-term sustainable growth.

Highlight 2: What new growth trends will China experience?

By 2023, the Chinese economy will rebound, while also boosting regional and global economies. At this critical moment of transformation for the world economy, what new growth trends will China experience? Currently, China still needs to address several long-term challenges, such as the potential stagnation of productivity growth and changes in population structure. How will China turn these challenges into opportunities, promote inclusive and sustainable growth, and achieve economic rebalancing?

Highlight 3: How can cutting-edge technologies, led by artificial intelligence, play a role?

Innovation capability is the decisive force for national and industry competitiveness. With the new wave of artificial intelligence triggered by ChatGPT, cutting-edge technologies such as artificial intelligence, quantum computing, and biotechnology are pouring into various industries, creating infinite opportunities. It is estimated that about 70% of the new economic value created in the next decade will be based on digital platform business models.How will cutting-edge technologies play an important role in business processes and industry transformation? How can industries, governments, and social organizations work together to deploy these technological achievements and transformation plans to ensure their full potential is realized?

Highlight 4: How to confront the climate crisis?

Climate disasters are becoming increasingly common, and rapid and concerted action towards carbon neutrality is crucial to mitigate the impact of climate change. How to take proactive measures to restore degraded land, water, and marine systems to alleviate food and water resource crises, while further promoting economic growth and environmental sustainability, has become a challenge facing the world today.

Highlight 5: How to achieve energy transformation?

To confront the challenges brought by climate change, countries around the world must accelerate energy and industry transformation. However, with the high global energy prices and rising demand, power generation still relies on traditional and non-renewable energy solutions. Therefore, it is crucial to vigorously invest and innovate, especially in emerging markets, to develop renewable energy, build clean power supply facilities, reduce unit GDP energy consumption, and eliminate carbon in the atmosphere.

Highlight 6: What are the new consumption trends in the post-pandemic era?

As countries around the world continue to reopen after the pandemic and global inflation rates stabilize, consumer spending is recovering and will become one of the biggest drivers of global growth in the next year. Due to the economic restart and price stabilization in various countries, coupled with changes in consumer habits caused or accelerated by the COVID-19 pandemic, the pent-up demand of consumers is gradually being released. This will have a significant impact on all industries and continue to shape the future business and consumption patterns.

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