Klaus Schwab, founder and chairman of the World Economic Forum, recently sat down for an interview with a Chinese state media outlet and declared China a “model” for other countries.
Schwab, 84, made the comments in an interview with CGTN’s Tian Wei on the sidelines of the APEC CEO Summit in Bangkok, Thailand, last week.
Schwab said he paid tribute to China’s “tremendous” achievements in economic modernization over the past 40 years.
“I think this is a model for many countries,” said Schwab, who believes that each country should decide for itself what kind of system it wants to adopt.
“I think we should be very careful about imposing institutions. But the Chinese model is definitely a very attractive model for many countries,” Schwab said.
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Schwab did not elaborate on which aspects of the Chinese model appealed to him, or which would benefit other countries.
China is governed by the absolute rule of the Chinese Communist Party (CCP), which does not allow people to practice a religion or belief of their choice, and does not tolerate dissent or criticism.
In 2014, the CCP announced a moral rating system whereby individuals, government agencies and businesses are ranked based on social credit. Environmental, social and governance (ESG) comparisons have been made, with major financial institutions and global organizations using the score to create a social credit system designed to influence behavior and transform society.
Schwab wrote in 2019 that ESG scores are necessary for stakeholder capitalism.
“‘Stakeholder capitalism,’ a model I first proposed half a century ago that positions private corporations as society’s trustees, is clearly the best response to today’s social and environmental challenges,” he wrote road. “We should seize this opportunity to ensure stakeholder capitalism remains the new dominant paradigm.”
In 2020, without any accountability or transparency, the Chinese government forced through Hong Kong’s “national security” law, which critics say gave authorities a pretext for a brutal crackdown on pro-democracy activists.
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More recently, Western countries have accused China of holding at least one million Uyghurs and other ethnic minorities in internment camps, where many say they are tortured, sexually assaulted and forced to renounce their language and religion.
Beijing denies the allegations are fabricated by Western countries.
FOX Business’ Teny Sahakian contributed to this report.