GENEVA - The World Economic Forum's Davos Agenda event will take place virtually from Jan 25-29 and is widely expected to bolster global cooperation in combating the COVID-19 pandemic and promoting economic recovery.

Under the theme "A Crucial Year to Rebuild Trust," more than 1,500 leaders from government, business and social organizations from more than 70 countries and regions will hold in-depth discussions on how to deal with the economic, environmental, social and technological challenges facing the world today.

Rebuilding trust

"Rebuilding trust and increasing global cooperation are crucial to fostering innovative and bold solutions to stem the pandemic and drive a robust recovery," the forum's official website quoted Klaus Schwab, founder and executive chairman of the forum, as saying.

This upcoming meeting, he added, will be "an opportunity for leaders to outline their vision and address the most important issues of our time, such as the need to accelerate job creation and to protect the environment."

The virtual meeting comes as the raging pandemic, in addition to claiming the lives of more than 2 million people, risks triggering widened long-standing health, economic and digital disparities.

Meanwhile, the World Bank warned the global economy could be heading for "a decade of disappointing growth outcomes" after the pandemic triggered one of the worst economic recessions in history.

The International Labor Organization said the outbreak has created a crisis in global labor markets and that the working time lost in the second quarter of 2020 is equivalent to 495 million jobs worldwide.

"We have to make all efforts to ensure that the gap of the advanced economies and the emerging economies is not becoming bigger as a consequence of the crisis," Schwab previously told Xinhua, calling for more attention to small and medium-sized enterprises that have been hit the hardest by the pandemic.

China's role

When addressing the Beijing Forum 2020 in December, Schwab hailed China's role in fighting the pandemic and reinvigorating its own economy.

While an equitable distribution of vaccines has attracted notable attention from the international community, Chinese vaccines are regarded increasingly as global public goods, contributing to the accessibility and affordability of vaccines in developing countries.

Also, China was the only major economy to achieve positive growth in 2020, providing hope for a wider world economic recovery.

Saadia Zahidi, the forum's managing director, told Xinhua that China's faster than expected economic rebound after the COVID-19 shock is a bright spot and could serve as a roadmap for other countries.

Similarly, as the world is looking for ways to combat the epidemic and spur economic recovery, China's participation at the meeting is expected to contribute to a solution, other analysts said.

According to event organizers, participants at the meeting will discuss a series of topics including designing cohesive, sustainable, resilient economic systems; driving responsible industry transformation and growth; enhancing stewardship of the global commons; harnessing the technologies of the Fourth Industrial Revolution; and advancing global and regional cooperation.