President Xi Jin Ping gave an amazing speech in Davos yesterday, which was a rallying cry for global cooperation and integration and finding global solutions to global problems.

He reiterated China's support for and continued openness to economic globalization, including trade as a historical fact that cannot be wished away. He underscored the many challenges of globalization, especially the creation of winners and losers, and worsening inequality, but said all these problems can and should be addressed jointly by the global community.

Governments should pay more attention to securing the economic wellbeing of losers. To quote him "Success is secured when people put their heads together." He also said, "A right path leads to a bright future."

President Xi reaffirmed China's commitment to the climate change agenda. He said the world economy lacks new sources of growth and that institutions of global governance are not fit for purpose because they do not take adequate account of the changing economic dynamics with the emerging and developing economies of the world. But in his mind, all these issues can be dealt with through focus on innovation and global action!

A truly important discourse.