Swiss president calls for open markets and stable institutions in WEF speech

Keller-Sutter spoke at the opening of the WEF in Davos. Chinese Vice-Premier Ding Xuexiang also addressed the audience on Tuesday. Keystone / Laurent Gillieron

In speeches at the World Economic Forum (WEF) in Davos on Tuesday, Swiss President Karin Keller-Sutter, European Commission President Ursula von der Leyen and Chinese Vice-Premier Ding Xuexiang all made the case for economic growth, fair competition and global cooperation, a day after Donald Trump took the presidential oath of office in the United States.

Keller-Sutter wanted to emphasise in her message at the opening of the WEF that “only freedom provides the basis for development”, she told the Keystone-SDA news agency.

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In her own speech, von der Leyen saw the world in an era of “fierce geostrategic competition”. The European leader said that a world order based on cooperation, as imagined 25 years ago, had not become a reality. The world’s largest economies were now competing for access to raw materials, new technologies and global trade routes, she said.

“Trade wars have no future,” said Vice-Premier Xiuxiang, referring to the threat of a trade war between the US and China. Trump has threatened China with high punitive tariffs.

Competition and innovation

Where power and resources are concentrated in the hands of a small elite, widespread prosperity and social peace cannot flourish, Keller-Sutter noted. Open competition, stable state institutions and healthy public finances are pre-requisites for the well-being of countries and their populations, she said.

“Without competition there is no innovation, and without innovation there is no progress,” she said. Governments have a resonsibility to create the right framework conditions both nationally and internationally. “Governments must safeguard free trade,” Keller-Sutter told Keystone-SDA.

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In this regard, Xuexiang emphasised the importance of diplomatic relations. According to the Vice Premier, development can only be driven forward together if everyone sits around the table and engages in constructive dialogue.

Von der Leyen presented an EU strategy with three pillars for growth over the next quarter of a century: to create a capital markets union in Europe, to make it easier for citizens to invest in their own economy; to reduce bureaucratic hurdles; and to continue to focus on “clean energy”.

Adapted from German with DeepL/gw