Introduction to the 56th Annual World Economic Forum
Flags flutter during the 56th annual World Economic Forum (WEF) meeting, in Davos, Switzerland, January 19, 2026.
Denis Balibouse | Reuters
BEIJING — While high-profile world leaders in Davos last week opined on U.S. claims to Greenland, China’s envoy reiterated calls for cooperation. Businesses and analysts in China said the developments highlighted an opportunity for Beijing to expand its influence globally as tensions between the U.S. and its allies grow.
Shift in Global Economy
This year’s Davos is a “watershed” moment, said Hai Zhao, a director of international political studies at the Chinese Academy of Social Sciences, a state-affiliated think tank. He said countries are likely to shift toward regional trade, rather than a global economy centered on the U.S.
The world’s second-largest economy sent He Lifeng, one of its four vice premiers, to Davos, where he promoted business opportunities in China and called for the fair treatment of Chinese companies. In his speech Tuesday, He cited U.S.-China trade talks as an example of cooperation, with no specific discussion of other countries.
Global Leaders’ Visits to China
Signaling changes afoot, several world leaders have visited China in January alone, a sharp contrast with the more isolated years around the Covid-19 pandemic. As 2026 kicked off, Chinese President Xi Jinping met with Ireland’s Prime Minister Michael Martin — the first visit by an Irish leader in 14 years — and hosted South Korea’s President Lee Jae Myung later that day.
Canada’s Carney met with Xi in Beijing last week and announced a new strategic partnership involving canola seeds and electric cars. U.K. Prime Minister Keir Starmer is expected to make a similar trip next week.
Impact on Global Trade
U.S. tensions with Europe are good for China’s relationship with the bloc, said Wei Wang, a researcher at Tianjin University of Commerce. He said the Greenland controversy could accelerate what he described as Western acceptance that competition with China is failing, while reinforcing the idea that global power is shifting eastward.
China’s share of global container shipments has climbed steadily, reaching 37% for the first three quarters of last year. Beijing was the first major economy to retaliate against Trump’s so-called “Liberation Day” tariffs back in April, and has increasingly cast itself as a stabilizing force for the world.
Conclusion and Future Outlook
Global trends are shifting regardless of China’s domestic challenges. Larry Fink, CEO of the U.S. financial giant BlackRock and co-chair of this year’s World Economic Forum in Davos, said Tuesday the gathering may not always be held in the Swiss Alps.
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Smart Tip for Readers
To stay up-to-date with the latest developments in global trade and economy, consider following reputable news sources and think tanks, such as the Chinese Academy of Social Sciences, and attending or watching webcasts of major economic forums like the World Economic Forum in Davos.
