Apple chief lauds China's opening-up

AFP

Apple CEO Tim Cook is “extremely bullish” about the global economy based on the amount of innovation underway, and applauds China’s policy of opening-up.

In a speech at an economic forum in Beijing on Saturday, Cook said Apple is less concerned with the short-term economic outlook because the tech giant makes investments looking ahead years or decades.

“In the long term, I’m extremely bullish. I think the key to the economy, unlocking its potential has always been innovation, and when I travel around the world, I’ve never seen innovation at a more feverish pace than I do today, so I’m extremely optimistic,” Cook told participants at the China Development Forum, a gathering of business leaders.

His remarks come as China and the US prepare to meet again to resolve their trade dispute, which has roiled global markets.

He said one of the key elements of a partnership is openness and trust, “being open to working together, open to new ideas, open to new solutions.”

“We’ve seen China continue to change and evolve, and we are grateful that you have opened your doors to us and allowed us to be part of the community here,” Cook told an audience of senior government officials, company executives and scholars.

Apple sees China’s continuous opening-up as essential not only for China to reach its full potential but also for the global economy to thrive, he said.

China is a major market for Apple and other smartphone makers, accounting for one-third of the industry’s global handset shipments.

In other comments, Cook said the world was “facing greater challenges than ever before.”

“Climate change is threatening our planet, poverty and inequality hold citizens and nations back from their potential, basic health care remains out of reach for millions,” he said.

“At the same time ... we can have a healthy planet and a thriving economy. We can continue to lift millions of people out of poverty, and we can give everyone a chance to learn and thrive. To fulfill this potential, we must all work hand in hand, government, academic institutions and businesses like Apple,” Cook said.