In an interesting speech on the opening day of the World Economic Forum, Chinese Premier Wen Jiabao vowed to support policies for greater economic and trade openness.

Asserting China’s new position in the global economy, Premier Wen stated, “"I am confident that China's economy will make a new contribution to robust, sustainable and balanced growth in the global economy."

Not only does he hope to boost domestic Chinese demand and assist exports for multiple nations worldwide, he expressed full confidence in the US economic recovery - a view not shared by many at the forum.

Premier Wen also expressed willingness to support European recovery, "We have on many occasions expressed our readiness to extend a helping hand and a readiness to increase our investment in Europe."

While much of Premier Wen’s statement is extremely positive, with markets up across the board today, it remains to be seen whether it is just rhetoric, and whether his soon to be placed successor will follow a more open, active leading position in the global economy.

Nonetheless, Premier Wen's statement is representative of the evolving view China has of itself in relation to the top economies worldwide, and a move away from any isolationist or protectionist impulses that China has been accused of in the past.


This article was written by Christian Pielow from the Association of Executive Search Consultants (AESC).

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