Speaking at the Saint Petersburg International Economic Forum (SPIEF) for the third year in a row, CKGSB Founding Dean Xiang Bing told those present that China’s long-term future can be assured once short-term risks are dealt with.
Dr Xiang was joined on “The Transformation of the Chinese Economic Model” panel discussion by Xu Sitao, Chief Economist for China and Partner at Deloitte; Ivan Glasenberg, CEO of Glencore; Andrei Klepach, Deputy Chairman, Chief Economist and Member of the Board at Bank for Development and Foreign Economic Affairs; Alexander Machkevitch, Chairman of the Board of Managers at Eurasian Resources Group; Vladimir Mau, Rector at Russian Presidential Academy of National Economy and Public Administration; Maksim Oreshkin, Deputy Finance Minister of the Russian Federation; and Andy Xie, former Economist for Asia-Pacific, Morgan Stanley.
At the event, Dean Xiang spoke about the risks and opportunities as China restructures its economy from an export-oriented expansion to a consumer-driven model. He started his speech by providing a list of reasons to be optimistic about the Chinese economy saying, “China can grow as an economy by de-regulation – we have a long way to go”. But when asked about the risks to the Chinese economy, he stated that income inequality, the environment and the US-China relationship are all short-terms risks that the Chinese government must overcome.
To watch the full discussion, please visit the official SPIEF website here.