8 – 14 January 2018
China Daily – Asia Weekly
China all set for good growth in 2018
As China aims to shift from quantity to quality economic growth in 2018, it aims to foster high-quality job creation in fields like robotics and artificial intelligence (AI), while forestalling global financial risks. Will 2018 still see China regain its old dominance of global growth? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in China Daily – Asia Weekly.
The world economy is poised for an upturn. This is not only due to China’s economic success. Perera remarked that the decrease in the headline US corporate tax rate from 35% to 21% – one of the lowest in the developed world; and Japan’s economic reforms under Prime Minister Shinzo Abe are some of the contributing factors to the improved global economic outlook in 2018.
Moreover, disruptive technologies such as drones and AI will give rise to employment opportunities globally in new sectors, compensating for eliminated traditional jobs. However, this movement depends on how quickly companies and countries adapt.
China’s momentum is set to continue in 2018, with support from stable exports and a manufacturing recovery. State-driven investment is likely to remain a key economic growth driver.
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