The world is now in a new historical phase and all countries are in urgent need to recognize a common destiny and show their wisdom to uphold global responsibility, said Klaus Schwab, the founder and executive chairman of the World Economic Forum (WEF).

Saying that Chinese President Xi Jinping's speech in Davos in 2017 is of historic significance, Schwab agreed with Xi's advocation for the crucial need to manage humanity's future in an interdependent and interconnected world as a community with a shared future for mankind.

For Schwab, the pandemic is a good example of how much global solidarity and cooperation are needed.

"We are now in a phase of history where our collaborative spirit will be seriously tested, and I hope that all countries show the necessary wisdom to uphold global responsibility to shape together a new phase of history -- a world which is more sustainable, more inclusive, and more resilient," he said in a recent interview with Xinhua.

"This can only be achieved by recognizing our common destiny, leading to a much more collaborative and peaceful world compared to the extremely fractured situation we see unfolding now," he added.

After a two-year hiatus, the WEF held its annual in-person Davos meeting in May under the theme of "History at a Turning Point: Government Policies and Business Strategies."

"Yes, we are at a historical turning point. There are many reasons for this," Schwab told Xinhua.

He said climate change, the COVID-19 pandemic, the Fourth Industrial Revolution and the rise of social media, are all contributing to a fundamental change of the existing global political, economic and technological landscape.

"If each country only pursues its own interests, and ultimately, we will all be worse off," he warned, stressing that all the activities of the WEF are focused on strengthening, not weakening, global ties.

"Our future depends not only on our individual actions, but also on how much we strive together as a community towards a better future," he said.

The WEF founder explained that as divergent interests exist within a community, the community will have to be based on the principle of collaboration, requiring willingness and readiness to achieve a better than zero-sum outcome.

In order to realize the goal, he said, "we'll have to accept compromises in a shared future, and it would lead, particularly on a global level, to a world anchored in long-term common interests."