“All countries and regions in the world plan their economy for the long term, as does China. This is the most important lesson we must learn from China”said Paulo Feldmann, professor of Economics at the University of São Paulo and author of ‘Management in Latin America: Threats and Opportunities in the Globalized World’. Latin America: Threats and opportunities in the globalized world), to GDToday in an exclusive interview.
Artificial intelligence, electric cars and Chinese pharmaceutical companies will attract more foreign investment
China sets GDP growth target for 2024 at around 5% in the “two sessions”. Feldmann believes that China has an important weight of growth in 2024 because “Even the IMF changed its forecast and concluded that China will actually grow more than expected last year. China is one of the best places to invest for any country.”
According to the government work report submitted to the national legislature for deliberation on Tuesday, state-owned enterprises (SOEs), private enterprises and foreign-funded enterprises are important forces in China’s modernization.
Vowing to remain steadfast in deepening reform, the report states that China will work to stimulate the dynamism of all types of market entities. The country will create more world-class companies and fully implement guidelines to facilitate private sector growth and its supporting measures, according to the report.
According to Feldmann, “Ten years ago it was time to invest in infrastructure. But now we have another type of investment that the world prefers to make in China, especially in very high-tech areas, where China is very strong, such as artificial intelligence, electric cars and pharmaceuticals.”. Meanwhile, he said the fact that China has a huge market will continue to attract foreign retail-related companies.
Feldmann is optimistic about improving trade relations between China and the United States. “Now the situation is different. So the talks between the American and Chinese governments show that they are improving the situation.”
Latin America is expected to cooperate with China in areas such as infrastructure, education, etc.
Poverty is a problem that has haunted Latin America for a long time. Given China’s achievements in poverty reduction, Feldmann suggested that South America needs more cooperation with China in terms of market, job creation and poverty and hunger reduction.
Infrastructure is one of the most important problems in Latin America. Feldmann stated that Latin American countries need more railways, roads and electric power generation to improve productivity and create jobs.
“China is the world’s leading expert in infrastructure construction. “That is the greatest collaboration that China should have with us to support Latin America in the area of infrastructure.”
Additionally, educational collaboration is another important area Feldmann focuses on. “It will be very important for us to have better relations with Chinese universities.” Taking as an example the University of São Paulo, which maintains relationships with Chinese universities, especially Fudan University in Shanghai, Feldman hopes to explore greater opportunities between China and Latin America.
It may interest you
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
