Building a new global trade order on agenda

The threat of a world economic downturn is minimal, as Europe and the United States have entered a period of stable and strong economic recovery, said Tong Jiadong, vice-president of Tianjin-based Nankai University.

Meanwhile, emerging industrial economies are introducing critical structural reforms to boost new growth, which offers good opportunities, Tong said in an interview before the opening of the 2014 Summer Davos in Tianjin.

Tong is the head of the team that designed and organized the agenda for this year's Summer Davos. One of the topics that will be discussed is the building of a new global trade order and system.

"In the aftermath of the financial crisis, there has been much discussion about ways to promote a global economic recovery. But institutional recovery, development and innovation are also important and worth discussing," Tong said.

How China's structural reforms can be integrated with the changes in global trade and the value chain of the world economy will receive particular attention.

Also new topics such as e-commerce and Internet marketing have been included. "This new business model has expanded the idea of marketing and sales and challenged the existence of the traditional shopping malls."

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