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‘Summer Davos' in Tianjin to see post-pandemic record attendance amid interest from Middle East, North Africa
TIANJIN: The Summer Davos – the World Economic Forum's (WEF) second largest annual gathering – kicks off on Tuesday (Jun 24) in China's northern city of Tianjin.
Also known as the Annual Meeting of the New Champions, the event is set to see a post-pandemic record of more than 1,700 participants from governments, businesses and civil society from 90 countries.
Mirek Dusek, a managing director of the Forum, said the gathering will explore topics including entrepreneurship, technological innovations and the evolving trade and investment relationships between Asia and the Middle East.
About 120 participants from the Middle East and North Africa regions are expected to attend, double the number from last year.
Dusek noted that this increased attendance could partly be attributed to the changing geography of economic relations, with Asia contributing heavily to global growth.
'60 per cent of global GDP (gross domestic product) growth is coming from Asia … with the significance of the Chinese economy (being) the second largest economy in the world,' he told CNA.
Chinese Premier Li Qiang is scheduled to attend the opening plenary and deliver a special address. World leaders in attendance include Singapore's Prime Minister Lawrence Wong and Vietnam's Prime Minister Pham Minh Chinh.
ECONOMY AND RESILIENCE
The 16th edition of the meeting, themed 'Entrepreneurship for a New Era', will see attendees discussing topics including new energy and materials, the global economy and China's outlook over three days.
'The many changes in the world economy underscores the need for such exchanges,' said Dusek, highlighting factors such as the US tariffs.
He added that world leaders are looking to understand how their countries can remain competitive and resilient amid technological advancements and rapid changes to the world economy.
He said international business leaders are also looking at how they can invest in various sectors in China, including energy and artificial intelligence.
'AI … and other technologies (are) reshaping industries and societies,' said Dusek, adding that another trend companies and governments are 'betting on' is energy transition, a key topic of discussion at the meeting.
CHINA HOPES TO ATTRACT MORE INVESTMENT
Chinese officials are hoping the Summer Davos can showcase business opportunities in the country and woo foreign investors.
'The openness of the world is declining, unilateralism and protectionism are intensifying,' said Chen Shuai, deputy director-general of international cooperation at China's National Development and Reform Commission.
He noted that multilateralism and free trade are facing severe challenges.
'Against this background, we feel that the convening of the annual meeting itself is a strong signal of support and response to economic globalisation,' he said.
This is the eighth time that Tianjin is hosting the Summer Davos, alternating with the northeastern port city of Dalian.
With the Israel-Iran conflict posing risks to trade routes, energy supplies and large infrastructure investment, observers say China's strategic posture - across security and economic engagement in the region - is likely to stand out to participants.
'The global geopolitical situation right now is becoming more and more uncertain … China is seen as a relatively neutral and stable partner that does not interfere in regional domestic politics,' said Jing Lin, a research fellow at the National University of Singapore's Middle East Institute.
She said that while Beijing's reluctance to take on a 'hard security' role could limit how it is seen as an alternative reliable partner in the Middle East region, China is still an economic powerhouse.
'Nevertheless, even if (these) countries recognise or see China's lack of solid influence on the conflicts, I think they will continue to enhance their economic engagement with China,' said Jing.
