Homepage / Asia / At annual meeting of global leaders, bullishness on China's economy abounds
Best Alternatives of VPN Software New Step by Step Roadmap for Marijuana News Privately owned Internet Access Avast Review Powerful Deal Achievement Top Rated Free VPN Services Adaware Review – Is Adaware Review Right For You? Ideal Legit Snail mail Order Bride-to-be Sites To Decide On In 2023 & Feedback Thailänder Brides Pleasant Thai Mailbox Order Wedding brides To Marry Tes Powerful Interracial Marriages Exquisite Interracial Lovers How to begin a Successful Wife Search Getting married to a Russian Child The right way to Meet Delightful Ladies Around the World To recognize Know About Ukrainian Single Girls Dating The Different Types of Sugar Daddies The key benefits of Dating a Latina Top 5 International Dating Sites Russian Women Seeking Men Overseas Cookware Interracial Lovers and the Backlash Against All of them Getting the Marriage License and Wedding ceremony Done Correct How to pick the Best Web based Marriage Company Delightful Interracial Lovers Crucial Russian Females Dating Suggestions for Men Top five Romantic Honeymoon Destinations Just what Soulmate? Web based Relationships Suggestions Setting Expectations just for Online Sugar Daddy Arrangements Marital relationship License and Ceremony Why Are Latinas Heated? Getting Foreign Bride-to-be Tips on how to Propose — What’s the Best Way to Say “I Do”? Dating Etiquette — The Modern Rules of Seeing A Quick Guide to the Use of NLP in Chatbots How you can Have a cheerful Marriage The right way to Fix a Relationship With out Hurting Your companion How to Spice Up a lengthy Distance Relationship The main advantages of Online Dating What is the Best Female Race to Marry? Western european Women Stereotypes Why Asian Girls Like Bright white Guys How to Succeed in On the web Relationships Top 5 Online Connections Tips Top 5 Online Connections Tips Leading Countries With Best Foreign Brides Powerful Interracial Relationships Asian Wedding Icon Meanings Where to Find a Deliver Order Star of the wedding For what reason Asian Girls Like Light Guys Asian Brides Via the internet 5 Latina Wedding party Traditions Will possibly not Have Dreamed about When should you Stop Online dating Other People in Online Dating Latina Relationship Interaction Styles How to Find a Bride On line Good Interracial Relationships Oriental Wedding Practices Top five Online Relationships Tips The right way to Meet Overseas Woman and Create a Longer Distance Romantic relationship Where to Meet Latina Mail Buy Brides Where to get a Hot Asian Star of the event Precisely what is the Best Female Race to Marry? Mixte Marriage and Asian Ladies Mixte Marriage and Asian Ladies Mixte Marriage and Asian Ladies Handling Modern and Traditional Principles in Oriental Relationships Cookware Woman That Want to Marry Browse Online Dating Websites Reviews Ahead of You Subscribe What Country Offers the Best Wives? Singaporean Wedding Customs – Blending Tradition and Modernity Effective Interracial Partnerships Ways to Express Take pleasure in in a Long Distance Romantic relationship Marriage ceremony Tradition in Thailand Damaging Communication in Relationships The Best Place to Meet a very good Woman Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement

Asia

At annual meeting of global leaders, bullishness on China's economy abounds

DALIAN, China — Despite many risks and challenges facing the world’s second-largest economy, views on China were largely optimistic at the World Economic Forum meeting here in Dalian.

The positivity may have seemed incongruous with the perennial spate of doomsaying headlines, but the line held strong throughout “Summer Davos.” During the three-day gathering — named after the forum’s annual marquee event in Switzerland — business leaders, policy makers and experts focused on imagining the future, and how the world ought to position itself to take tomorrow by storm.

While some of the forum’s discussions looked beyond the horizon — from smarter-than-human artificial intelligence to solving political strife — much of the discussion focused on the here and now of China, which has hosted the annual meeting for about a decade.

The tone was set with Premier Li Keqiang’s opening speech on Tuesday, which offered a rare glimpse into what authorities are thinking in the world’s second-largest economy.

During his address, Li touted the idea of a Chinese economy driven by innovation. It’s an image that China has been eager to push, marking a clear shift from the old stereotype of a “copycat China,” especially as entrepreneurship has boomed. The premier also made it clear that Beijing was aware of risks facing growth, and assured the audience that authorities were equipped to handle them.

China’s growth momentum remains strong, according to Helen Zhu, managing director and head of China equities at BlackRock, the world’s largest asset manager. And a wider crackdown that has hit the financial sector isn’t unusual in a developing market — while holes would take a while to fix, it’s a good sign the government is working on it now, she said.

“Any problem that’s taken seven, nine years to build up will not be resolved overnight, so that path towards the resolution will not be a straight line either,” Zhu said.

Former Chinese central bank advisor Li Daokui even predicted the country’s economic growth will accelerate once the country gets new leaders who aren’t scared. Many officials have been swept up in a major anti-corruption campaign waged by President Xi Jinping, so without the worry of being taken out in a crackdown, the thinking is that heavily-vetted new authorities may become bolder in pushing forth much-needed reforms.

Xi’s supporters have said the anti-graft investigations are necessary to get rid of bad actors, while critics say it’s merely house-cleaning of opponents. Either way, a major twice-in-a-decade leadership shuffle this fall is set to take place, and that’s the turning point.

“These [new] officials have been carefully, carefully scrutinized before they are appointed, so they are clean,” Li said. “They are not worried about becoming targets of anti-corruption investigations.”

Li’s so bullish that he even said he expects China’s economy to grow as much as 7 percent next year, and around 6.7 percent this year. While that would still represent the country’s slowest pace of growth in about a quarter of a century, it would match what China posted in 2016, and perhaps mark the start of growth acceleration.

Continued strength and optimism in China is also marked by increasingly sophisticated consumers with greater spending power than ever.

Chinese today are more aware of what they’re buying, and are starting to seek better goods rather than cheaper or counterfeit items, said Gao Hongbing, an Alibaba Group vice president, during a World Economic Forum event.

“I think they’ve lost interest,” Gao said of the mainstream Chinese consumer’s attention to knock-offs. “Therefore, they like more high-quality and genuine products.”

And despite uncertainties, Chinese CEOs are still willing to invest now for the future, according to a KPMG study heralded during the meeting. While top executives from the U.S. and Europe are looking to their own domestic economies to seek growth, ones from Asia are looking to international markets, according to the study. Chinese CEOs in particular are interested in Australia, Germany and the U.K. as overseas destinations for growth.

Still, in the short term, experts say Beijing must contend with a collection of domestic concerns, such as a housing bubble and debt levels.

At next year’s Summer Davos — set to be held in the Chinese city of Tianjin — perhaps some of those challenges will have seen new solutions.

—CNBC’s Geoff Cutmore and Everett Rosenfeld contributed to this report.

See more of CNBC’s World Economic Forum “Summer Davos” coverage here.

Source: cnbc china
At annual meeting of global leaders, bullishness on China's economy abounds

Comments are closed.