Final day of Davos World Economic Summit
The World Economic Forumâs Virtual Davos Agenda event will end today after a week of meetings involving heads of state, chief executive officers, international civil society leaders and global media.
A highlight of the event was Chinese President Xi Jinpingâs keynote speech calling for multilateralism and greater macroeconomic policy coordination while warning against a ânew Cold Warâ. The speech comes as the world awaits a new phase in US-China relations under US President Joe Biden.
China remains on track to soon surpass the US as the worldâs largest economy, although this is largely contingent on the formerâs ability to maintain current, often falsified, growth trends. Biden has indicated the US will employ âstrategic patienceâ with respect to Beijing and will conduct internal interagency reviews before committing to a firm China policy.
Expect continued tensions between Beijing and Washington, specifically in dealing with their thorniest issues, including restrictions on telecommunications giant Huawei, data security regarding apps like TikTok, and tariffs on almost $500 billion of products. Still, recent statements by Biden administration officials indicate a likely measured approach towards addressing the challenges posed by China in an effort to develop a âwhole-of-government responseâ, in coordination with US allies.
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Sulagna is a Research Analyst in the Current Developments team. She has a background in computer science and international relations and specialises in cybersecurity, political theory and security studies. Sulagna's writing focuses on foreign policy and national security issues, particularly in the realm of technology.