All countries should strengthen cooperation

Facing novel coronavirus pneumonia and other factors, how should we do all the severe shocks to the supply chain?
Liu Jiren, chairman and chief executive officer of Neusoft group, said that global supply chain is closely related to economic globalization, but at present, some factors make globalization face challenges.
On the one hand, due to political factors, such as competition between countries, countries are worried about whether they can safely produce or acquire components, technology and resources in the future. “And this concern has led us to rethink our past progress in the context of a global supply chain.” On the other hand, the epidemic is also impacting the global supply chain.
Liu Jiren believes that the structure and mode of thinking of the future supply chain will change, and the strategy of each country will also change. In the face of this situation, it is very important for countries to maintain smooth communication with each other in the context of readjusting the supply chain. On the basis of interests and people’s livelihood in the future, all countries should think about how each country should cooperate in the future supply chain development process through win-win cooperation. “To ensure the security of the supply chain while benefiting all parties.”
Liu Jiren stressed that countries should have a deeper understanding of their views on some aspects of the supply chain. For example, competition and other factors have affected the supply chain in high-tech fields such as chips. However, the investment cost of high-tech products is high, and the product cycle is short. In the case of global cooperation, it is conducive to us to produce better products with the strength of our portfolio, which is beneficial to all parties. However, the current trend is that this situation may change in the future, and the change will certainly lead to higher costs and lower efficiency. Moreover, it will have a great impact on the globalization achievements we have made over the past years, and will have a negative impact on the recovery and sustainable development of the world economy.
Liu Jiren said that the world will face a more complex situation in the future, and the supply chain system may be different from that in the past. Countries should cooperate, discuss and communicate with each other from the perspective of win-win and shared interests.
At the end of this conference, the host Xue LAN raised the last question: Based on the uncertainty encountered in the current world, especially in the supply chain, how can we establish a global governance system, or is it possible to establish a new governance system to reduce the uncertainty faced by the global supply chain?
In response, Edmund Phelps said: “I think the first step is to improve the relationship between China and the United States. I think the two sides can still improve the relationship. There is room for that. This is the first step, but I believe we can do it, we can achieve it. ”
Sanjay Mehrotra also agreed with the view of improving Sino US relations. “I think this is at the heart of the global system, and it will be for decades to come,” he said
“The change between China and the United States is probably our most important change,” Mr Liu said
“We need a new G20 meeting,” Mr Ng said

1 Response

  1. Marley says:

    In today’s world, countries are interdependent for common prosperity. We believe that on the issue of rare earths, we should also strengthen cooperation, share responsibilities and share outcomes.

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