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Speakers at
Fortune Forum Optimistic on China's Future All four speakers at September 27's first commerce session of the Fortune Global Forum agreed that China's future in the next 50 years will be prosperous. They also agreed that China's economy is now developing soundly, and that over the next five to ten years the country can expect continued rapid growth. They noted that China is now facing both opportunities and challenges, but the opportunities outweigh the challenges. Kenneth S. Courtis, strategist and chief economist from the Deutsche Bank Group Asia Pacific, said that it is vital for China to efficiently use bank deposits, which will produce "revolutionary" effects on its economic development. He predicted that the country will become both a major exporter and a large consumer in the future. Fan Gang, director of National Economic Research Institute, expressed optimism about the current reform of state-owned enterprises, saying that the reform is going in the right direction, and will likely be completed in the next three to five years. As China has been confronted with the problem of deflation for the past two years, Mickey Kantor, former U.S. secretary of commerce and trade representative, said that China has adopted a series of measures, such as cutting interest rates, increasing salaries and investing more in infrastructure, and all these measures are correct and will bear good results. "China will harvest a lot as it is planting the seeds now," said Kantor. Maurice R. Greenberg, chairman and CEO of the American International Group Inc., said at the session that China needs the WTO, but the WTO needs China more. He noted that the United States should abandon a narrow view of politics and develop a partnership with China, because that kind of relationship will be good for both countries. |
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