China didn’t feature much in Davos, but it matters

BEIJING – As prominent world leaders weighed in on the United States’ claim to Greenland at Davos last week, China’s envoy renewed his call for cooperation.

Chinese companies and analysts said the development highlights an opportunity for Beijing to expand its influence globally amid rising tensions between the United States and its allies.

Hai Zhao, director of international politics research at the Chinese Academy of Social Sciences, a government think tank, said this year’s Davos was a “watershed” moment.

He said countries are likely to move toward regional trade rather than a global economy centered on the United States.

The world’s second-largest economy sent one of its four vice-premiers, He Lifeng, to Davos to promote business opportunities in China and call for fair treatment of Chinese companies. In his speech on Tuesday, he cited U.S.-China trade talks as an example of cooperation, but did not specifically discuss other countries.

His remarks did not attract as much attention as those of other world leaders at the forum. US President Donald Trump has made headlines for making personal attacks on foreign leaders and then softening his stance on Greenland.

European Commission President Ursula von der Leyen outlined potential trade deals, including a potentially “historic” deal with India.

Notably, Canadian Prime Minister Mark Carney spoke of a “rupture in world order” in a short speech that many commentators hailed as potentially historic.

But Chinese analysts say it is Beijing’s consistent message that will determine its global influence even more.

Wei Wang, a researcher at Tianjin University of Business, said the tensions between the US and Europe are good for relations between China and European countries.

He said the Greenland dispute could accelerate what he described as Western acceptance that competition with China is failing, while reinforcing the idea that global power is shifting eastward.

Peter Alexander, managing director of Shanghai-based Z Ben Advisors, said the Davos speech showed a growing acceptance of fundamental global changes that many countries outside the orbit of the United States, Europe and Japan are already aware of.

“It is becoming clearer with each passing day that other countries have little power or ability to act as long as China monopolizes production,” he said.

China’s share of global container shipments has steadily increased, reaching 37% in the first three quarters of last year. Beijing was the first major economy to retaliate against President Trump’s so-called “Liberation Day” tariffs in April, strengthening its position as a stabilizing force in the world.

The United States and China agreed to a fragile one-year ceasefire in October, and President Trump is scheduled to visit China in April. However, tariffs continue to rise while the US government continues to restrict access to China’s advanced technologies.

In an essay published Thursday that describes his perspective as an American who has lived in China for nearly 30 years, Alexander said the U.S.-China conflict is the culmination of decades of “consequential miscalculations on the part of U.S. policymakers and business leaders.”

In a sign that change is afoot, several world leaders visited China in January alone, a sharp contrast to years of more isolation around the coronavirus pandemic.

As 2026 begins, Chinese President Xi Jinping met with Irish Prime Minister Michael Martin, the first visit by an Irish leader in 14 years, and later that day hosted South Korean President Lee Jae-myung.

Canada’s Mr. Carney met with President Xi Jinping in Beijing last week and announced a new strategic partnership on rapeseed and electric vehicles. British Prime Minister Keir Starmer is also planning a similar trip next week.

Jacob Cook, co-founder and CEO of WPIC Marketing + Technologies, said such visits help boost companies’ confidence in engaging with China. The company helps foreign brands such as Vitamix and IS Clinical sell online in China and other parts of Asia.

Last year, as the U.S. increased tariffs, Cook said there was “increased interest from non-U.S. Western consumer brands looking to diversify their international sales by exporting to China.” He said Chinese consumers continue to demand premium products in categories such as vitamins, pets and sports.

China’s Vice Premier He said expanding domestic demand, especially income growth, is a priority this year.

It remains a challenge for China’s state-led economy. Retail sales rose just 0.9% in December, the slowest pace since the pandemic. When asked last week about measures to increase disposable income, senior economic planning officials could not yet provide specific measures.

Regardless of China’s domestic challenges, global trends are changing.

Larry Fink, CEO of BlackRock and co-chair of this year’s World Economic Forum in Davos, said on Tuesday that the gathering might not always be held in the Swiss Alps.

That could be in “places like Detroit or Dublin, cities like Jakarta or Buenos Aires,” Fink said. “The mountains will come down to earth.”

The forum has already held a summer version in China since 2007, and this year’s event is scheduled for the northeastern city of Dalian. Last year’s participants noted a tilt away from Western economics and business.

President Trump also signaled a softer tone toward China in his high-profile Davos speech.

“I’ve always had a very good relationship with President Xi. He’s an incredible person. What he’s done is amazing and he’s highly respected by everyone,” Trump said.

He added that relations had been “very seriously disrupted by the coronavirus” but that they had stopped using the term “China virus” at President Xi’s request.