Foreign scholars and economic experts are expressing optimism about China's economic growth prospects, highlighting the country's sustained competitiveness and pivotal role in global trade.
Arthur Kroeber, founding partner of Gavekal Dragonomics, shared with the South China Morning Post that China is effectively maintaining its share of global trade and manufacturing. \"China is so far doing a pretty good job of retaining its competitiveness and maintaining a fairly stable share of global trade and manufacturing,\" Kroeber stated.
Discussing China's position in the global supply chain, Kroeber emphasized the nation's broad competitiveness across both low-value and high-value sectors. \"They have such an enormous labor pool and such effective infrastructure that they are able to be competitive across a wide range of goods,\" he explained. He further noted that China's size, workforce productivity, infrastructure quality, and diverse industrial ecosystem provide significant comparative advantages.
Kroeber also mentioned that China remains an essential market for many international companies and continues to be a significant source of growth. \"China is still a non-optional market for many international companies,\" he said, adding that the country will likely maintain a strong position in global manufactured trade for years to come.
Jeffrey Sachs, an economics professor and director of the Center for Sustainable Development at Columbia University, echoed these sentiments. He highlighted China's advancements in key global technologies such as photovoltaics, wind power, modular nuclear power, long-distance power transmission, 5G (now transitioning to 5.5G), batteries, and electric vehicles (EVs). \"These will keep the Chinese economy moving forward,\" Sachs affirmed.
Looking ahead, Sachs pointed out that initiatives like the Belt and Road Initiative will become increasingly influential as the world invests in new energy and digital systems. He anticipates that China's trade and financial relations will increasingly focus on emerging and developing countries, further solidifying its global economic presence.
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Foreign scholars positive about China's economic growth prospects
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