INTERNATIONAL EVENT: SHENZHEN GLOBAL FORTUNE FORUM
Event co-organized by the Global Alliance of SMEs (GASME) and the Global Times newspaper, with the participation of the Global Business Development Network.
Will China continue to lead world economic growth over the next decade?
The year 2013 was disappointing for holders of Chinese class A shares. While stock markets showed an upward trend on a global level, and both the Japanese and American indexes reached new highs, the Shanghai Composite Index fell 6.75% and the Shenzhen Index fell nearly 11%. How can the Chinese stock market continue to be so weak when its economy shows better than decent growth rates? And how will China deal with its economy’s challenges in the future, taking into account structural adjustments and existing opportunities where China can play a leadership role?
The Chinese economy faces new challenges. The need to go from being an investment and export-driven economy to one geared toward domestic consumption, the importance of becoming a country whose growth policy considers environmental needs, and the appropriateness of migrating from competitiveness based on low labor costs to competitiveness centered on innovation and brand prestige are some of the issues on which its leaders need to take a stand.
The foregoing is in addition to structural changes and adjustments anticipated on a global scale; transatlantic trade agreements and the Pacific Alliance, which are changing the rules of the game with regard to investment and trade; and the recently announced BRICS Development Bank, where China could play a strong leadership role.
The speakers chosen to respond to these issues were Carlos Magariños (former director general of UNIDO, current global chairman of GASME and CEO of the GBD Network), former President Horst Koehler (Germany 2004-2010), former President Lee Myung Bak (South Korea 2008-2013) and former Chinese minister of Foreign Affairs, Li Zhaoxing.
China has become a key player in the international economy. However, the challenges its economy still faces are enormous, in a context of major structural adjustments at the global level, but also of great opportunities.
Members of the network interested in participating, please contact us at webmaster@Foresight2020.com