Global south engine for global growth - Li Qiang - Video Dailymotion

AWANI

Chinese Premier Li Qiang warned that global trade is undergoing rapid transformation and urged nations to rethink economic engagement, as he opened the 2025 World Economic Forum in Tianjin. We hear more from Astro Awani's Najib Aroff.

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00:00Global trade is being reshaped at breathtaking speed and the world must brace for deeper

00:14transformation. That was the key message from Chinese Premier Li Chiang who opened the World

00:19Economic Forum's annual meeting of the New Champions 2025 in Tianjin with a bold warning

00:26and a call to rethink how nations engage economically. Lead Editor Najib Arof has the report.

00:33Global trade is being reshaped at a breathtaking speed and the world must brace for deeper

00:41transformation and that was the key message from the Chinese Premier Li Chiang who opened the World

00:47Economic Forum's annual meeting of the New Champions 2025 in Tianjin, China. He said during his keynote

00:53address and also sends a bold warning and call to rethink how nations engage economically and

01:01according to him the balance of economic power is tilting decisively and at the same time advanced

01:07economies are seeing stagnation in trade while developing nations are on the rise and fast.

01:13Let's listen to what he said.

01:14Economic and trade system is becoming more diverse and the global south is rapidly gaining strength.

01:26While trade is weakening in developed economies which represents the overall trend, global south

01:34countries which account for about 70% of the global population are emerging as a vibrant market.

01:42Since 2000 trading goods of developing countries has grown by 4.6 times in the past over 20 years, much faster

01:57than that of developed economies and its share of global trade has increased from 30% in 2000 to 45%.

02:10And he went on to say that regionalism has surpassed the multilateralism at the current speed and

02:16pace and also this shift brings flexibility but at the same time risk and we need to ask whether this

02:22fragmentation ultimately help us or hurt the global trade. This is what at least for now we have to

02:30ponder around the world especially from developing nations. Reporting from Tianjin for Awan International.

Global south engine for global growth - Li Qiang

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