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.