Xinhua Commentary: Forging win-win partnerships to invigorate global growth – Xinhua

2025 Summer Davos Forum: Addressing Global Economic Challenges through Sustainable Development Goals

Global Economic Outlook and Challenges

The global economy currently stands at a critical crossroads, facing the risk of increased protectionism and uncertainty or the opportunity to reignite growth through win-win partnerships and true multilateralism. Free trade, which has historically contributed to job creation, affordable consumer goods, and enhanced global welfare, is now challenged by rising trade barriers and fragmentation.

Economic Growth Concerns

• The World Bank’s 2025 global economic growth forecast has been revised down to 2.3%, marking the slowest pace since 2008 except for the recessions in 2009 and 2020.
• Geopolitical conflicts and policy uncertainties continue to hamper recovery efforts post-COVID-19 pandemic.

2025 Summer Davos Forum: Focus Areas and Objectives

The 16th Annual Meeting of the New Champions of the World Economic Forum (WEF), held in Tianjin, China, brings together leaders from government, business, academia, and other sectors to address these challenges. The forum emphasizes sustainable development aligned with the United Nations Sustainable Development Goals (SDGs).

Key Focus Areas

1. Outlook on China
2. Investing in People and Planet (SDG 3: Good Health and Well-being; SDG 13: Climate Action)
3. New Energy and Materials (SDG 7: Affordable and Clean Energy; SDG 12: Responsible Consumption and Production)
4. Industries Disrupted
5. Deciphering the World Economy

Innovation and Entrepreneurship as Drivers of Sustainable Growth

In light of economic headwinds, the forum highlights the critical role of entrepreneurship and innovation in unlocking new growth drivers and fostering strong partnerships that support the SDGs.

Technological Advancements

• The ongoing scientific and technological revolution focuses on intelligent, green, and health technologies, contributing to SDG 9 (Industry, Innovation and Infrastructure) and SDG 3 (Good Health and Well-being).
• The WEF unveiled the top 10 emerging technologies of 2025, including collaborative sensing and generative watermarking, expected to have real-world impact within three to five years by addressing global challenges.

China’s Role in Promoting Multilateralism and Sustainable Development

China reaffirms its commitment to multilateralism, free trade, and sustainable development as it advances modernization and economic transformation.

Key Contributions

• China’s economic growth model is shifting towards consumption and innovation, supporting SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation and Infrastructure).
• Technological progress in new energy and artificial intelligence aligns with SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).
• High-standard opening-up policies create opportunities for global win-win cooperation and partnerships.

Outcomes and Expectations from the 2025 Summer Davos Forum

The forum serves as a vital platform for global exchange and cooperation, with the highest number of registered participants in recent years, reflecting a shared commitment to economic globalization and sustainable development.

Anticipated Impacts

• Promotion of economic and trade exchanges aligned with SDG 17 (Partnerships for the Goals).
• Catalyzation of new partnerships to address development challenges.
• Contribution of innovative solutions to global sustainability and economic stability.
• Injection of stability and certainty into the global economic environment.

In conclusion, the 2025 Summer Davos Forum emphasizes the importance of sustainable development goals as guiding principles for overcoming current economic challenges and achieving shared global prosperity through cooperation, innovation, and multilateralism.

1. Sustainable Development Goals (SDGs) Addressed or Connected

1. SDG 8: Decent Work and Economic Growth
   • The article discusses global economic growth challenges, job creation through free trade, and the need to reignite growth.
2. SDG 9: Industry, Innovation and Infrastructure
   • Emphasis on entrepreneurship, innovation, new energy, materials, and emerging technologies aligns with this goal.
3. SDG 17: Partnerships for the Goals
   • The article highlights multilateralism, win-win partnerships, and international cooperation as key to overcoming economic challenges.
4. SDG 13: Climate Action
   • References to green technologies and new energy indicate relevance to climate action and sustainable development.

2. Specific Targets Under Those SDGs

1. SDG 8 Targets
   • Target 8.1: Sustain per capita economic growth in accordance with national circumstances.
   • Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation.
2. SDG 9 Targets
   • Target 9.5: Enhance scientific research, upgrade technological capabilities of industrial sectors.
   • Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable.
3. SDG 17 Targets
   • Target 17.16: Enhance the global partnership for sustainable development.
   • Target 17.17: Encourage and promote effective public, public-private and civil society partnerships.
4. SDG 13 Targets
   • Target 13.3: Improve education, awareness-raising and human and institutional capacity on climate change mitigation.

3. Indicators Mentioned or Implied to Measure Progress

1. Economic Growth Rate
   • The article cites the World Bank’s global economic growth forecast (2.3% for 2025), which is an indicator under SDG 8.1.
2. Innovation and Technological Advancement
   • Emerging technologies such as collaborative sensing and generative watermarking imply indicators related to research and development expenditure, number of patents, or technology adoption rates (SDG 9.5).
3. Trade and Partnership Metrics
   • Indicators related to the volume of international trade, number of multilateral agreements, and partnership effectiveness (SDG 17.16 and 17.17) are implied by the emphasis on free trade and multilateralism.
4. Green Technology Adoption
   • Indicators measuring the share of renewable energy in total energy consumption or investments in green technologies (SDG 13.3 and 9.4) are implied by references to new energy and green technologies.

4. Table of SDGs, Targets and Indicators

Source: english.news.cn