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European policymakers and international bankers at the Davos forum say the eurozone´s debt crisis has turned a corner and any DOUBTS about the survival of the single currency have passed.
We begin in Davos, Switzerland where China is under the spotlight at the World Economic Forum. The 5-day summit features 6 meetings focused exclusively on China, the most in the event´s history.
"All our efforts to further develop the world economy will be for nothing if we fail to defeat terrorism, extremism and intolerance, if we fail to eradicate altogether these evils which are the greatest danger to mankind."
"Savings measures and growth are not opposites. Germany has cut spending in the last two years and had growth of 3.6 percent last year."
"Paris and Berlin would take new steps in European economic integration in the coming weeks." "No one was trying to undermine the dollar which would remain the world´s main reserve currency."
"Our first priority must be to kill off the specter of massive sovereign debts. those who argue that dealing with our deficit and promoting growth are somehow alternatives are wrong."
"2011 as a "window of opportunity," albeit a narrow one."China will give support to the roadmap proposed by WTO Director-General Pascal Lamy."
"I think there is more confidence now that the most acute part of the crisis is behind us - absolutely in the Unites States - but I think that´s also true globally."
"I think this should be a meeting which looks at new reality, which is reality based on the shift of geopolitical power from the north to the south, from the west to the east. And I think that is very much reflected in the participation, politically and economically." said Klaus Schwab, Founder & Executive Chairman of World Economic Forum.
"Emerging markets´ economic growth is speeding up. Under the new reality, the power of emerging markets is becoming stronger and stronger. So the world needs a shared norm, and countries should negotiate in a friendly manner, which is very critical to future development." said Li Daokui, Member of Monetary Policy Committee of PBOC.
French President Nicolas Sarkozy vowed that he and European partners would never turn their backs on the euro. While Greek Prime Minister George(Yaw-yoos) Papandreou said there is no question of his country restructuring its debt.
China, which celebrates the 10th anniversary of its accession into the World Trade Organization (WTO) this year, is one of the most dynamic expressions of emerging economies´ rise. Other major emerging economies including India, Brazil and South Africa are also putting on eye-catching performance.
2011 marks the tenth year since China entered the World Trade Organization. In that decade, China´s trade with the rest of the world has developed at a remarkable pace, and the country is contributing more and more to global economic growth.
China has been prospering along with the world and thus achieved a "win-win" situation since it joined the World Trade Organization (WTO) 10 years ago, Chinese Commerce Minister Chen Deming said Thursday.
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