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Thursday, May 30, 2024

Premier of China urges Davos not to use innovation as a means to hinder other countries.

Chinese Premier Li Qiang addressed the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 16, 2024, emphasizing the need for global cooperation in innovation. He stressed that tech innovations should not be used to restrict or contain other countries and called for more open measures to enhance cooperation in innovation. Li did not name specific countries, but his remarks came in the context of Beijing’s repeated request for Washington to remove restrictions on Chinese companies from buying advanced U.S. technology.

Following his speech, Li discussed the risks and opportunities of generative AI, such as ChatGPT, in a brief Q&A session with WEF Founder Klaus Schwab. He emphasized the necessity for humans to control machines rather than the other way around and called for a universal “red line in AI development,” adding that AI should benefit more than a small group of people and prioritize the interests of developing countries.

Li also addressed concerns about the flow of data across international borders and China’s commitment to opening up to global business. He highlighted China’s economic growth of around 5.2% in 2023, emphasizing the country’s focus on strengthening internal drivers and not resorting to massive stimulus or seeking short-term growth with long-term risks.

The Chinese leader also discussed the need to increase the connections between domestic and overseas financial markets, while ensuring financial security in China. While Li did not specifically name any names in his speech, his remarks came in the context of calls for increased cooperation, openness, and fairness in the global tech and financial sectors.

Li’s comments come amid an ongoing trade and technology tension between the U.S. and China, with Beijing seeking more open measures and cooperation in innovation, while also emphasizing its commitment to opening up to foreign businesses and global opportunities.

In a friendly and welcoming tone, Li’s address reflects China’s desire for global cooperation in innovation and economic development, indicating the country’s willingness to address concerns and create favorable conditions for the world to share in China’s opportunities. His emphasis on control and fairness in the tech and financial sectors embodies China’s vision of nurturing a healthy and open global economy that benefits all countries.

It is clear from Li’s remarks that China is focused on strengthening its internal drivers for economic growth and promoting global cooperation in innovation, all while ensuring fairness and openness in the global tech and financial sectors. It remains to be seen how these calls for global cooperation and openness will influence the ongoing dynamics of trade, technology, and international relations between China and other countries.

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