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China Doubles Down on Economic Globalization

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China is committed to building an open economy within the framework of globalization, said Li Keqiang, Premier of the People’s Republic of China, at the opening plenary of the World Economic Forum’s 13th Annual Meeting of the New Champions.

Premier Li reaffirmed China’s readiness to work with the international community to steer economic globalization.

“We now live in a world of profound interdependence,” he stressed. “Countries rely on each other’s markets. No country can single-handedly provide all resources … or offer all needed goods to consumers. Nor can any country sustain its development in isolation from the global system.”

Li underlined that “fundamental principles, such as free trade, must be upheld.”

Premier Li committed to measures that would facilitate the further opening of China’s economy. “We will move up the lifting of foreign ownership caps in securities, futures and life insurance,” he said, also pledging that restrictions on foreign investment in the technological sector will also be reduced.

“This is China showing to the rest of the world that we are determined to carry forward our opening up,” he reiterated. Li also encouraged foreign investment in advanced manufacturing, and further opening of China’s financial services.

The premier doubled down on commitments to stabilize the renminbi exchange rate, to not devalue the renminbi, to strengthen IP protection, and to open up additional sectors to foreign investment.

“The world economy stands to benefit from a more open China,” Li concluded.

The premier identified risk factors to the global economy, including “the slowdown of international trade and investment, the rise of protection, and growing uncertainties and destabilizing factors,” adding that “we all need to take proactive measures to cope with them.”

“In the face of slowing economic growth,” Li said, “we must live the spirit of partnership, as we are passengers in the same boat.”

Premier Li acknowledged problems that have arisen in a globalized economy, including lack of equality. “We cannot simplistically make a scapegoat of economic globalization,” he chided, but instead must “guide globalization in the direction of … inclusive growth.”

In his introductory remarks, Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, noted heightened geopolitical tensions that threaten globalization and multilateralism.

“The world needs more globalization, not less,” Schwab stressed, in an interlinked and interdependent age.

“We are clearly living in challenging times,” he said, “where we need the wisdom and experience of different stakeholders to come together for the common good.” The world is in a time of transition, he noted: no longer in a bipolar or unipolar world, but not yet in a multipolar world.

Schwab called for “a new type of globalization, Globalization 4.0, which must accept diversity, and must accept that different nations have different concepts for development.”

Premier Li also emphasized that globalization is an irreversible trend, “benefiting not just China but also the rest of the world,” enabling new forms of business and promoting international division of labour.

“With inclusive development,” he summarized, “we will be able to achieve win-win results,” he concluded.

In opening the session, David Aikman, Chief Representative Officer for China and Member of the Executive Committee at the World Economic Forum, identified regional competition, economic disparity and technological disruption as key challenges for the future, and stressed cooperation within the theme of Leadership 4.0.

Tang Yijun, Governor of Liaoning Province, praised the World Economic Forum as “an important platform to share ideas and wisdom” in the international community. China “will uphold the flag of our opening up even higher,” he said. “We will not slack in our efforts.”

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Health & Wellness

Moderna vs. Pfizer: Two Recent Studies Show Moderna to Be The More Effective One

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The first study was published by medRxiv “The Preprint Server for Health Sciences” on August 9th, and compared (on 25,589 vaccinated v. 25,589 unvaccinated Minnesotans) “the effectiveness of two full-length Spike protein-encoding mRNA vaccines from Moderna (mRNA-1273) and Pfizer/BioNTech (BNT162b2) in the Mayo Clinic Health System in Minnesota over time from January to July 2021.” Moderna was 86% effective against the infection; Pfizer was 76% effective. In July (when the “Delta” variant first became dominant) Moderna was 91.6% effective against hospitalization; Pfizer was 85%. But during that month, effectiveness against the infection was 76% for Moderna v. 42% for Pfizer. Nationwide (including Mayo in MN, WI, AZ, FL, & IA), Moderna was about twice as effective “against breakthrough infection” v. Pfizer.

The second study was far smaller, published on September 10th by the CDC, and studied only 1,175 hospitalized U.S. veterans (93% male) at V.A. centers nationwide. Moderna was estimated at 91.6% effective, Pfizer at 83.4%. Since no non-hospitalized comparison-sample were studied, “Vaccine effectiveness … to prevent Covid-19-associated hospitalization was estimated by using multivariate logistic regression to compare the odds of full vaccination between case-patients and controls,” and so the reliability of this study was far less than in the Mayo Clinic study.

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Republic of Korea offers support for smallholder farmers in Mozambique

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The Korea International Cooperation Agency (KOICA) donated US$5.7 million through the World Food Programme (WFP) for a project to support smallholder farmers in Sofala Province, central Mozambique.

The project will improve food security and livelihoods with a focus on climate resilience for smallholder farmers and will be implemented from this year in the districts of Chemba, Maringue and Caia in Sofala province and will benefit 36,000 smallholder farmers and their families until 2025.

The programme will work with the Ministry of Land and Environment, the Ministry of Agriculture and Rural Development and the National Institute of Meteorology (INAM).

Mozambique is one of the most vulnerable countries to the impacts of climate change. Over the past three years, five tropical cyclones (Desmond, Idai, Kenneth, Chalane, Eloise and Guambe) have caused human and material damages mainly in central Mozambique.

H.E. Ambassador Sung Jun Yeo said that he expects the project is going to be successfully implemented and 36,000 smallholder farmers and their families will have the capacity to maintain a stable livelihood and secure food through the project. “We hope that the friendly relationship between the Government of Mozambique and that of the Republic of Korea is firmly established through various grant aids from the Korean Government via KOICA,” emphasized the Ambassador.

“This generous donation from the people of Korea through KOICA will help change the lives of Mozambicans most affected by climate change“, said Antonella D’Aprile, WFP Mozambique Country Director. “By supporting smallholder farmers to become climate resilient, we are also protecting their livelihoods and food security of their families and communities. We thank KOICA on behalf of the people that we serve“.

The Korea International Cooperation Agency (KOICA) was established as a governmental agency dedicated to providing grand aid programs of the Korean government in 1991. KOICA endeavors to combat poverty and support the sustainable socioeconomic growth of partner countries. By doing so, KOICA establishes and strengthen friendly ties with developing countries.

The United Nations World Food Programme (WFP) is the 2020 Nobel Peace Prize laureate. WFP is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

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Global Plastic Action Partnership Making an Impact in Fighting Plastic Pollution

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The Global Plastic Action Partnership (GPAP) released its second annual impact report, which highlights strides made over the last two years in building coalitions, extending global reach, and helping nations make a difference by confronting plastic waste.

“Plastic pollution was already a global emergency, and with the pandemic-induced explosion in packaged goods, as well as increased of use of single-use plastics through masks, gloves and other PPE, it has become a global disaster,” said Kristin Hughes, GPAP Director and a member of the World Economic Forum Executive Committee. “The good news is that our GPAP 2021 impact report proves that what we’re doing works, and if we act together now, we can halt the plastic pollution crisis in its tracks.”

On the heels of a challenging year dominated by the COVID pandemic, GPAP and its partner governments have met critical milestones, including:

– Ghana, Nigeria, Indonesia, and Viet Nam came together as early adopters in the Forum’s Global Plastic Action Partnership

– Viet Nam pledged to reduce marine plastics by 75% by 2030

– Ghana committed to a 100% circular economy for plastics

– Indonesia’s action and investment roadmap is poised to prevent 16 million tonnes of plastic leakage into the ocean; Create 150,000 jobs; and Generate $10 billion in annual revenues.

Taking collaborative action to tackle plastic pollution

“The Forum’s platform approach aligns various stakeholders from public and private organisations, works toward common objectives, and creates outcomes far greater than could be achieved by any nation or organization acting alone,” said Hughes. “It’s a great honor to lead the GPAP platform, and to see what we can accomplish through the convening power and influence that the Forum brings to bear. Our second annual report shows what can be done and, now more than ever, what needs to be done.”

In the face of global disruption and re-set, GPAP’s initiatives are performing and moving the needle on climate change by promoting a circular economy for plastics. The report outlines key progress in the following impact areas:

Transforming behaviour – GPAP amplified initiatives that help citizens and consumers form more sustainable relationships with plastics

– Raised awareness of the COVID-19 impact on the plastic ecosystem through public town hall communications

– 14 solutions to address plastic waste and pollution were developed in collaboration between government, business, and media influencers on the GPAP platform

– 116 recycling points were identified in Ghana’s capital city of Accra, up from just 10 before the National Plastic Action Partnership was initiated

Unlocking financing – GPAP engaged stakeholders to promote investments that tackle plastic waste and pollution

– $196.7 million was committed by GPAP members to National Plastic Action Partnership countries

– 13 financial institutions engage in GPAP finance events and task forces

– 140,000 people will be reached through financing committed by GPAP partner, the Alliance to End Plastic Waste in Indonesia

– GPAP collaborated with HRH The Prince of Wales Sustainable Markets Initiative to host a Roundtable on Financing Plastic Action in Emerging Markets to unlock opportunities for investing in plastic action

Informing policy – Supporting the collaboration of policy makers with stakeholders to confront plastic pollution, GPAP has established National Plastic Action Partnerships (NPAPs) in Indonesia, Ghana, Viet Nam, and Nigeria

– 57% of GPAP’s members have been involved in government policy consultations; 53% report being involved in corporate policy decisions

– GPAP’s National Action Roadmaps offer a suite of solutions for policy makers to consider when developing plans to address plastic pollution.

Boosting innovation – GPAP created opportunities for high-potential innovators to access partners who are helping to scale their ideas

– Established a platform for connecting innovators, experts, and investors through the Global Plastic Innovation Network in partnership with UpLink where 70+ solutions are now showcased

– Crowdsourced plastic waste solutions in Indonesia and produced videos of innovators engaged in the plastic space, which reached 1.75 million views on social media

Harmonizing metrics – GPAP has facilitated evidence-based, country-level analysis and action planning to create consistent, best-practice frameworks for measuring plastic waste reduction

– Forum research determined that almost 50% of ocean waste can be prevented by reusing only 10% of plastic products (see The Future of Reusable Consumption Models Report)

– Baseline assessments and scenario analyses were completed with Indonesia, Ghana, and Viet Nam to give governments clear evidence and inform action roadmaps

Promoting inclusivity – GPAP maintained its commitment to ensure that diverse voices and inclusive perspectives are integrated across all partnerships

– Established gender-responsive principles for plastic action through GPAP’s Guide to Ensure Gender-Responsive Action in Eliminating Plastic Pollution

– Conducted a ground-breaking Gender Analysis of the Plastics Sector in Ghana

– Brought together key youth leaders through the inaugural Plastic Action Champions cohort

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