World Economic Forum chair Klaus Schwab declares on Chinese state TV: ‘China is a model for many nations’

World Economic Forum founder and Chair Klaus Schwab recently sat down for an interview with a Chinese state media outlet and proclaimed that China is a “role model” for other countries.

Schwab, 84, made these comments during an interview with CGTN’s Tian Wei on the sidelines of the APEC CEO Summit last week in Bangkok, Thailand.

Schwab said he respected China’s “enormous” success in modernizing its economy over the past 40 years.

FILE: World Economic Forum (WEF) founder and Executive Chairman Klaus Schwab sits, as German Chancellor Olaf Scholz (not pictured) addresses delegates, during the final day of the WEF in Davos, Switzerland May 26, 2022.

FILE: World Economic Forum (WEF) founder and Executive Chairman Klaus Schwab sits, as German Chancellor Olaf Scholz (not pictured) addresses delegates, during the final day of the WEF in Davos, Switzerland May 26, 2022.
(REUTERS/Arnd Wiegmann)

“I think this is an example for many countries,” Schwab said, before qualifying that he thinks each country should make its own decisions about which system it wants to adapt.

Also Read :  Brace for 'Violent' Shocks That May Alter Global Economy: El-Erian

“I think we have to be very careful in the imposition of systems. But the Chinese model is an attractive model for many countries,” said Schwab.

China CONSIDERS cutting $700 checks for all citizens due to COVID-19 economic struggles

Schwab did not elaborate on what aspects of the Chinese model appealed to him, nor which might be useful in other countries.

China is ruled by the absolute rule of the Chinese Communist Party (CCP) which does not allow people to practice the religion or belief of their choice, and there is no tolerance for dissent or criticism.

In 2014, the CCP announced a moral ranking system in which individuals, government organizations, and companies are ranked based on social credit. Comparisons are made with environmental, social and governance, or ESG, scores used by major financial institutions and organizations around the world to create a type of social credit system designed to influence behavior and change. -or in society.

Schwab wrote in 2019 that ESG scores are necessary for stakeholder capitalism.

“‘Stakeholder capitalism,’ a model I first proposed half a century ago, places private corporations as the trustees of society, and is clearly the best answer to today’s social and environmental challenges,” he wrote. . “We must take this opportunity to ensure that stakeholder capitalism remains the new dominant model.”

Also Read :  CarMax Auto Financing 2022: Review, Rates, Comparisons

In 2020, without accountability or transparency, the Chinese government launched a “national security” law for Hong Kong, which critics said gave the authority a pretext for brutal repression. of pro-democracy activists.

CLICK HERE TO GET THE FOX BUSINESS APP

Recently, western countries have accused China of sweeping at least one million Uyghurs and other ethnic minorities into detention camps, where many say they were tortured, assaulted by sex, and forced to leave their language and religion.

Beijing denies these accusations as a fabrication concocted by Western countries.

FOX Business’ Teny Sahakian contributed to this report.

Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button