China remains 'hugely important' to the global economy, says Standard Life Aberdeen chairman
Geopolitical tensions between China and other countries can present new challenges for businesses, but the Asian giant's role in the world has not diminished, said Douglas Flint, chairman of Standard Life Aberdeen.
— beginning to expand their operations, even during this period in China," Flint said.That shows continued progress toward the integration of the Chinese economy into the global economy that both sides have aspired to, he said."But the political rhetoric is somewhat distant from what's happening on a commercial side. I think we need to try and bring the two back together and, as I said, I think that should be done through engagement."
Weaning off fiscal supportFlint also pointed out that many economies have become dependent on government support as a result of thecoronavirus crisis, and it will be difficult to wean them off aid."That government support was timely," he said. "It was extremely heavy in terms of its impact, but it can't go on forever."
Countries rolled out generous fiscal packages to help businesses and individuals in the wake of the Covid-19 outbreak and subsequent lockdowns. However, concern has grown over what will happen when that support is withdrawn or runs out."I think the challenge for governments across the world is how to wean the economy off governmental support," he added.
How to get the economy functioning in an independent way again ... is going to be very important.Douglas Flintchairman of Standard Life AberdeenIt will be a "significant" challenge because confidence will fall as people start losing their jobs. "That then has sort of a multiplier effect on what happens, in terms of people's willingness to go out and spend, and do the things that would bring the economy back."
"How to get the economy functioning in an independent way again ... is going to be very important, and how to use the firepower that the central banks and governments may have left, to target that very specifically and efficiently to the sectors that need it," he said.
Flint added that the need to build resilience in various sectors is an important lesson from the coronavirus. He said the banking system was reinforced after the global financial crisis, and that helped it to withstand an "extraordinary stress test" this year.
"If the amount of money that had been spent strengthening the financial system had been spent on strengthening the health service and other parts of the economy that have been severely tested in the pandemic, we probably would have had a much lower cost to society," he said.
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Is he referring to Hong Kong. Sort of cryptic language. Maybe his company is over hedged. Has he counts his money from China 🇨🇳 ☠️ Stupid trump drives American economy to a deadend then he brags abt it. He's known for self-inflict of humiliation. His crooks and stupidity will be written down in the txtbook as the most lunatic human ever becomes the president of earth leading country in the new millennium.
Indonesia to beef-up patrols after China coastguard raises suspicionIndonesia will increase maritime security operations near some of its islands in the South China Sea after a Chinese coastguard vessel was spotted nearby, raising suspicions about its intentions, a senior security official said on Tuesday. La démocratie ne concerne pas seulement les droits de l’homme, la démocratie est au cœur de la construction de la société, de son intégrité. Nice photo/// Naughty boy XiJinping! You're not supposed to piss off other countries in your coming war with America 🤦 imagine if you make Indonesia your enemy 🙊 they can easily cut off your supply to oil from the Middle East...
Mongolians protest visit of China diplomat as language dispute simmersDemonstrators rallied in Mongolia's capital Ulaanbaatar on Tuesday to protest against a visit by the Chinese government's top diplomat, State Councillor Wang Yi, amid accusations that Beijing is suppressing native language and culture in ethnic Mongolian regions of China . Even Mongolia can't stand these degenerates simply, the world needs to unite against the evil china I cannot read the work Mongolians anymore without hearing it in the voice of the owner of City Wok on SouthPark . Sorry, not sorry.
Trump's tariffs on China violated law, trade body saysThe World Trade Organization ruled decisively Tuesday that President Trump violated global trade rules when he unilaterally imposed tariffs on what became more than $350 billion worth of Chinese goods How about the ethnic cleansing being done here. WHY IS THE US GOVERNMENT CURRENTLY STERILIZING IMMIGRANTS IN CUSTODY DOING NAZI EXPERIMENTS IN THE CURRENT AGE. 2020 They just made up that new rule this past week. Besides if a nation is a threat to America and her allies it doesnt matter what any international body says the US will defend itself and her allies. NBA AND POLITCO support CHI-NA
Exclusive: Alibaba, China Mobile weigh $443 million investment in blacklisted Dahua - sourcesAlibaba Group Holding Ltd and China Mobile Communications Group Co Ltd [CHNMC.UL] are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.
Australia and China need to find common ground, former Australian prime minister saysAustralia and China need to find common ground despite their differences, as the economic relationship between the two is an important one, said John Howard, former Australian prime minister. I am calling it now and predicting that China and Australia relations will be downgrade in the future. Maybe 4-6 months. Who can find any common ground with China FireJimCramer
Alibaba Group opens China factory in new manufacturing initiativeAlibaba Group Holding Ltd announced a new business initiative for smart manufacturing on Wednesday called Xunxi Digital Technology Company, as part of which it is opening a pilot factory in the Chinese city of Hangzhou.