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While delivering his remarks at a virtual meeting of the World Economic Forum on Monday, China’s President Xi Jinping said that the world needs to strengthen the macroeconomic policy coordination, as reported by Reuters.

Additional takeaways

“Global recovery is rather shaky and the outlook remains uncertain.”

“The north-south gap risks further widening and even perpetuation.”

“The international community should provide the necessary support to developing countries and safeguard their legitimate development interests.”

“The way out of current challenges is by upholding multilateralism.”

“The world should take down barriers to trade, investment and technological exchanges.”

“Public health governance needs to be enhanced.”

“It is necessary to consolidate the position of the G20 as the main platform for global economic governance.”

“We need to maintain the stability of the global industrial chain and supply chain, maintain stable operation of the global financial system, promote structural reforms, expand global total demand.”

“Scientific and technological achievements should benefit all mankind, not means to restrict or contain the developments of other countries.”

“China will more actively participate in global economic governance.”

“It is not in the interests of any party to de-globalize and decouple because of the epidemic.”

Market reaction

These comments don’t seem to be having an impact on risk sentiment. As of writing, the US Dollar Index was up 0.05% on the day at 90.28.