The World Economic Forum (WEF)'s managing director Saadia Zahidi said she is optimistic about emerging economies in an interview with China Global Television Network (CGTN) in Riyadh on Sunday and Monday, during a WEF special meeting held in the Saudi capital.
"There is also really cause for optimism. And the cause for optimism comes from, one, South-South cooperation. There's a lot more cooperation happening between countries in what is roughly defined as the Global South. So, for example, between China and Africa, or, for example, trade between many countries in Southeast Asia. So there's a lot that is happening on that front. That's cause for optimism. A second cause for optimism is many countries have an opportunity in this particular environment where a lot of the traditional rulebook is out of the window to create new markets and to create very attractive investment opportunities," she said.
Zahidi also shared her insights on China's development driven by new quality productive forces, speaking highly of the country's efforts to apply new technologies in specific industries and calling it a leader on the Fourth Industrial Revolution.
"I think it's really, from what I understand of the model in China, it requires a big focus on using the technologies in specific sectors and using that for further innovation, whether that's in biotechnology, whether that's green technology, all of that are very much industries of the future. And we've been talking about the Fourth Industrial Revolution for 10 years, but I think with what's happened now in artificial intelligence in the last year and a half, that's given a new impetus to what is possible in the space of the Fourth Industrial Revolution. And China being the leader on that, already I think the AI investment has grossed about 2 billion [U.S. dollars] over the course of last year. So that's all going to provide a basis for China to be a leader in the space of the Fourth Industrial Revolution, but not Fourth Industrial Revolution agnostic of sectors, specifically applied to different sectors," Zahidi said.
The two-day special meeting on global collaboration, growth and energy for development took place with the aim of facilitating dialog among thought leaders and the public on a range of topics including environmental challenges, mental health, digital currencies, artificial intelligence, the role of the arts in society, modern entrepreneurship, and smart cities.
WEF managing director optimistic about emerging economies
