China’s President Encourages Countries to Reduce Supply Chain Risk-WEF Conference-Bloomberg

China’s President Xi Jinping delivered a video speech at the World Economic Forum (WEF) online conference on the 17th, calling on countries to protect their global supply chain and prevent inflationary shocks.

Mr. Xi pointed out that “we must solve various risks and promote a steady recovery of the world economy”, and in addition to “the global industry and supply chain is in turmoil”, the price of commodities He also mentioned that the rise and the tightness of energy supply continued. These risks “increase the uncertainty of economic recovery,” he said.

President Xi also warned about global inflation risks and the implications of rate hikes. “If the major economies brake or make monetary policy U-turns, there will be a serious negative spillover effect,” which threatens “world economic and financial stability” and “developing countries are blamed for it.” “.

Regarding the Chinese economy, whose economic growth rate fell to 4% in October-December last year (fourth quarter), “fundamentals (basic economic conditions) remain unchanged. And the long-term outlook is positive. ” He also touched on investment in China, saying, “All types of capital managed in accordance with laws and regulations are welcomed and play a positive role in China’s development.”

The WEF will hold an online conference that started on this day until the 21st.

Original title:China’s Xi Calls on Nations to Reduce Global Supply Chain Risks (抜粋)

(Update by adding President Xi’s remarks)