Klaus Schwab: 'Globalization in its old form has come to an end.'
By Jin Zixiong

2017-06-27 17:48 GMT+8

By CGTN's Tian Wei and Ding Dai

Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), has praised China's role in driving global economic growth and its commitment to globalization.

In an interview with CGTN’s Tian Wei, Schwab underlined the importance of the Belt and Road Initiative. 

“What we have to realize is that globalization in its old form has come to an end and actually, we still as President Xi mentioned in Davos, need to exercise global responsibility to lead globalization, but globalization in a different form,” he said. 

World Economic Forum founder Klaus Schwab. /CGTN Photo

Schwab called for a different form of globalization that can ensure dialogues in a multipolar world. 

"We have to make globalization much more inclusive," he said. He says globalization today is not a homogeneous structure, but more of a network. 

Premier Li Keqiang greets Klaus Schwab during this year’s WEF in Dalian, Liaoning province, on Monday.  / China Daily Photo

During this year’s WEF, Premier Li Keqiang said China is ready to push forward with institutional reforms and tap market potential through innovation and entrepreneurship to seize opportunities brought by the latest round of global technological and industrial revolution. 

Schwab suggests capacity building is a key to tackling global challenged because the fourth industrial revolution requires new skills. 

“This will be the big challenge for governments and it also has a great impact on the education system because the educational system, because educational systems are very traditional. And, we have to think completely in terms of the new capabilities we need,” he said.

Klaus  Schwab founded the WEF in 1971, initially known as the European Management Forum. In 1987, the forum changed to its current name and sought to broaden its vision by focusing on international concerns.