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WEF official calls for mechanisms to foster dialogue in new tech era, boost world economy

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WEF official calls for mechanisms to foster dialogue in new tech era, boost world economy

2025-01-22 23:26 Last Updated At:23:37

An official with the World Economic Forum (WEF) has stressed the importance of establishing an adaptable mechanism for dialogue and cooperation that allows the global economy to fully benefit from the development potential of new technologies while managing the associated risks.

Mirek Dusek, one of WEF's managing directors, was speaking on the sidelines of the 2025 WEF Annual Meeting, which commenced in Davos, Switzerland on Monday.

The five-day event has gathered around 3,000 participants from various regions and industries around the world under the theme "Collaboration for the Intelligent Age," highlighting the need for greater collaboration against a backdrop of rapid technological advancements and global divisions.

In an interview with the China Global Television Network (CGTN) on Tuesday, Dusek said WEF is monitoring "two big forces" they believe are changing the world economy.

"On one hand, we are living through quite a unique time in terms of technological advancement and innovation. But on the other hand, of course, we are also tracking forces of fragmentation. We are seeing a more competitive geopolitical landscape, shifting value chains and supply chains, and of course, also social polarization in certain societies around the world," he said.

With the current uncertainties in the world, Dusek stressed the importance of building a suitable platform for dialogue, and ensuring that such a mechanisms is adaptable to respond to the various challenges.

"Given the trends that we are seeing in the global economy, in international relations, that function of bridging and dialogue could not be more important. It's very important that we have mechanisms where we can have dialogue and cooperation, and of course,  we also need to be on the front foot of thinking, 'Okay, how do we make sure that the collaborative mechanisms are fit for the 21st century?'" he said, adding that this will be one of the focuses of the current Davos meeting.

 Dusek also emphasized China's vital role in promoting global economic growth and technological development, describing the country as a "key actor" in helping the world transition to a new era of tech-driven development.

"Everyone understands that we need to be on our front foot, really thinking creatively around how do we relaunch growth that is inclusive, sustainable. But how do we relaunch growth in this new situation for the world economy? And China plays a very important role in that endeavor, on development, on trade, of course, as well. On technology, I mentioned the theme, 'The Intelligent Age'. What we are trying to communicate with that is that there is a huge opportunity around some of these technologies. What is quite special is that it's not only one technology, but we are seeing, at this moment, whole sets of technologies that are going to market and exponentially changing industry and economy. If we have this huge opportunity around these technologies, how do we design [not only] our dialogue mechanisms, but also our collaborative mechanisms to be able to harness these technologies for the benefit of the world economy while taking care of the risks," he said.

WEF official calls for mechanisms to foster dialogue in new tech era, boost world economy

WEF official calls for mechanisms to foster dialogue in new tech era, boost world economy

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Unresolved economic issues strain Japan-U.S. relations: expert

2025-02-09 14:01 Last Updated At:14:37

Despite pledges to strengthen cooperation, deep-seated trade issues continue to strain Japan-U.S. relations, a renowned Japanese political expert said, highlighting uncertainties surrounding the development of bilateral ties following a meeting between U.S. President Donald Trump and visiting Japanese Prime Minister Shigeru Ishiba.

After the meeting between the two leaders held at the White House on Friday, the two sides issued a joint statement emphasizing plans to strengthen cooperation in military security, economy and trade, and regional issues.

However, Uchiyama Yu, a professor of political science at the University of Tokyo, said he believes the future of Japan-U.S. relations remains uncertain, warning that unresolved economic disputes cast a shadow over the development of bilateral ties.

"In previous trade negotiations between Japan and the United States, Japan agreed to lower tariffs on [American] agricultural products in exchange for the U.S. commitment to reduce tariffs on Japanese automobiles. But the U.S. has yet to fulfill this promise. This was an agreement between both countries, and the U.S. should honor it. As of now, this remains an unresolved issue," said the professor in an interview with China Central Television.

Trump said after the meeting that the U.S. aims to eliminate its trade deficit with Japan, which exceeds 100 billion U.S. dollars. He also revealed that Japan plans to import a record amount of liquefied natural gas from the U.S.

When asked whether the U.S. would impose additional tariffs on Japanese products, Trump responded by saying that he would later announce a policy of "reciprocal tariffs," meaning the U.S. would adjust its tariff rates to match those imposed by its trading partners. But, he did not specify whether Japan would be covered by this policy.

Japan's commitment to increasing investment in the U.S. could be a crucial factor in maintaining current tariff levels, however, if the U.S. raises tariffs on Japanese imports, it could significantly impact Japan's economy, Uchiyama Yu said.

"If U.S. tariffs increase, Japanese exports will face greater challenges. In fact, President Trump aims to reduce the U.S. trade deficit with Japan. As a result, Japanese companies seeking access to the U.S. market will inevitably have to invest more in the U.S. For businesses, entering the U.S. market is profitable," he said.

"However, if Japanese factories relocate to the U.S., domestic employment opportunities in Japan will decrease. Japan is already experiencing a labor shortage, so this will not be an immediate issue. But, in the long run, it could lead to job losses and technology outflow from Japan," he added.

Unresolved economic issues strain Japan-U.S. relations: expert

Unresolved economic issues strain Japan-U.S. relations: expert

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