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The Summer Davos 2025 forum will be held from June 24 to 26 in Tianjin and is expected to bring together around 1,800 participants from more than 90 countries and regions.
China News Service | China News Service | Getty images
This report comes from the newsletter The China Connection of CNBC, which brings you ideas and an analysis on what stimulates the second world economy. Each week, we will explore the biggest trade stories in China, give a boost on market movements and help you set up for the coming week. Like what you see? You can subscribe here.
The great story
The United States entering the Israeli-Iranian conflict over the weekend dominated media titles, but the Rustlings this week at the “Summer Davos” conference in Tianjin, China, aimed more to sail in the less intertwined future with Washington.
Ten years ago, goods, capital, technology and talents sank between the so-called east and the west; Now, these are flows between the countries of the southern worldwide, said Ben Simpfendorfer, a partner based in Hong Kong at the management consultancy Oliver Wyman.
“The atmosphere [in Tianjin] reflects a modified world order. The world South is more connected than ever. “”
Worldwide Refers to less developed economies freely, in particular countries outside of American and European orbits. Think of Southeast Asia, Africa, Latin America and the Middle East-all the regions that China has sought develop a business and political relations with.
“There are 130 neutral countries that are ready to do business through geopolitical fractures and are looking for business, and many of them are led by relatively internationalist leaders … I look forward to opportunities in the world South,” said Aparna Bharadwaj, general manager of Global Advantage in a Panel Wef.
China, which deepened its relations with the world South, made the first Li Qiang urged more trade to “reshape” the world order of the WEF forum on Wednesday.
“We could move to a world where Asia and the Middle East emerge as a new convincing economic block which is always integrated into a certain measure with Europe and the United States, but this fluctuated integration,” said SimpFendorfer.
Renewed interest
Since 2007, the World Economic Forum based in Switzerland has managed a summer version of its Davos gathering in China, alternating between the cities of Tianjin and Dalian, both in the northern part of the country.
But as local Chinese governments have increased their own lectures and the overall economy has slowed down, foreign companies interested in China have not had to count so much on the Davos d’été matchmaking. Disturbances in pandemic and American-Chinese tensions have also wreaked havoc.
This year, however, even groups of otherwise silent participants have turned into slightly aggressive crowds to hang spots for certain events, including discussions on artificial intelligence and economic prospects.
Seats quickly filled for the release of the annual Wef “”Top 10 emerging technologies“Report – now in his third year of collaboration with the Dubai Future Foundation. Previously, the report had been Created by the forum with Scientific American.
Some eminent leaders took the opportunity to visit China. Singapore Prime Minister Lawrence Wong, Prime Minister of Vietnam, Pham Minh Chineh, and Ecuadorian President Daniel Noboa Azín were among the main political leaders Attend this year.
“The American tariff shock was an alarm clock for the world South in general on the need to diversify,” said SimpFendorfer, citing recent conversations with companies in Malaysia and Vietnam.
But he pointed out that it will not be easy to switch from an American market to several world markets in the South.
To attract trade partners, countries of Egypt to Vietnam at China all tries to improve their economic competitiveness.
“It is an awakening for Chinese multinationals to build truly international companies,” said SimpFendorfer, adding that learning from the past two decades would no longer be a good guide for the next 20 years, given the transformational impact of artificial intelligence.
Egyptian Minister of Investment and Trade Hassan El Khatib told Chery Kang de CNBC on the sidelines of the forum On Tuesday, the country aspires to appear in the top 20 of commercial competitiveness by 2030, following a major reform program last year to stimulate the development of the private sector.
He underlined the labor pool and engineering talents in Egypt, and noted how the country would run investors around the world.
Since American-Chinese tensions remain far from resolved, more and more countries may be eager to take the Chinese Prime Minister on his invitation to reshape the world.
– Bernice Ooi de CNBC contributed to this report.
TOP TV PICKS SUR CNBC
Johnson Chui, responsible for the global services of issuers in Hong Kong, exchanges and compensation, speaks of a recent renewal for Hong Kong as a market, because it attracts a wave of investors and foreign stock market introductions.
Eswar Prasad, professor at Cornell University and former Chief of the Chinese IMF division, explains why the United States and China feel the pressure of “reducing temperature” on their commercial relationship.
Joe Ngai, president of McKinsey China, believes that companies in China have shown resilience despite external threats, including pricing uncertainties and geopolitical tensions in the Middle East.
Need to know
China’s budgetary income growth in May. The central government Budget revenues increased only by 0.1% in May For a year earlier, slowing down from 1.9% expansion in April. Non -tax revenues decreased by 2.2%, its first annual decline since 2014, while tax revenue experienced a modest gain of 0.6% compared to the previous year.
Chinese Prime Minister Li Qiang asked not to transform trade into a political affair. He spoke to Plein opening of the annual conference of the World Economic Forum In China, often nicknamed “Summer Davos”. The Chinese chief has called for other countries to collaborate on trade and has committed to “making China a mega-central consumption”.
Beijing is punctuated by Israel. China initially undertook to support Iran shortly after the attack on Israel on June 12. Despite this first demonstration of support for Iran, Beijing’s rhetoric has moved to become more measured.
– Anniek Bao
On the markets
The actions of Continental China and Hong Kong increased early Wednesday in the middle of mixed exchanges in the region, while investors weighed a ceasefire between Israel and Iran, and a new comment of the American federal reserve.
Continental China CSI 300 increased by 0.35%, while Hong Kong Hang Seng index – which includes large Chinese companies – had won 0.77% at 12:20 p.m. local time.
The performance of the Shanghai composite in the past year.
Coming
From June 24 to June 27: the permanent committee of the national popular congress, the best Chinese legislative body, meets at Discuss a law on unfair competitionand examine public spending.
June 26: The investment bank in Asia Infrastructure is organizing the opening ceremony of its annual meeting after appoint a new president for a five -year term from January; Xiaomi to reveal the price of its electric Yu7 SUV
June 27: data on industrial profits from China for May
June 30: the official manufacturing of PMI China for June
July 1: Anniversary of the Chinese Communist Party Foundation in power in 1921; Caixin Manufacturing PMI for June
