Chinese Premier Speaks at World Economic Forum

Chinese Premier Li Keqiang is doing his best to rebuild confidence in his country's economy. He delivered the opening session at the World Economic Forum, the ninth "Annual Meeting of the New Champions" with more than 1,500 people representing more than 90 countries.

Seven video quotes may show a representation of the speech, although we don't know the criteria for selection. The first is below: 

According to The Financial Times, despite the government's focus on progress, critics accuse authorities as they "sought to prop up stocks by banning large share sales, detaining journalists and punishing 'rumour mongers' as well as orchestrating state-directed buying." 

Li has tried to put China's financial position into perspective: "The fluctuations in global financial markets recently are a continuation of the 2008 global financial crisis." The Financial Times summarizes Li's position: 

"Although he did not outline any further stimulus measures or policy reform initiatives, Mr Li did say he was confident in future growth because he saw a 'massive wave of mass entrepreneurship and innovation across the nation.'"

Li did acknowledge difficulties: 

"China is an economy that is closely integrated with the international market. Given the weak growth of the global economy, China cannot stay unaffected and the deep-seated problems that have built up over the years are also being exposed."

But he repeated that the Chinese economy is in a "proper range," which The Guardian calls, "a favourite phrase."

Discussion Starters: 

  • Analyze the audience at the World Economic Forum. What are their goals for attending the event? Who are the secondary audiences for Li's speech? 
  • Read the speech transcript. Does Li meet his goal of reassuring us about the strength of Chinese economy?