Today my speech at the China Outlook 2020 Conference of the European Chamber of Commerce in Shanghai. We talked about China’s economic outlook, trade war and business prospects. Here are my six bullets:
Export of our Made in Italy is confirmed as driving force of our economy. Representing about one third of the country’s GDP, every 1% of export growth translates into 0.3% growth in Italy’s overall GDP. In line with our strategy “Protection of Key Countries and Promotion of Emerging Countries”, a major push came from non-EU countries, where we have concentrated our institutional trips. Great performance of our export in the United States, from where we have just returned.
To guarantee this technological leap linked to international trade, we need to implement a strategy based on three pillars: 1) digitalisation, 2) the development of digital payment systems and 3) the strengthening of the logistics sector. Without one of these factors, the internationalization of companies cannot be completed, in a world that always gives more room to digital forms of trade, even cross-border.
Start-ups should be getting more attention for their contributions to employment. According to Tim Kane (Figure 1), startups create most new net jobs in the US. Between 1977 and 2005 they contributed nearly all the roughly two million to three million new jobs created every year.
My speech at the 85th Anniversary of Ispi institute in Milan: 1) what are the redistributive effects of free trade; 2) why I insisted so much for the signing of MoU on BRI; 3) which is the dominating theory, Krugman or Ricardo?
In these two short videos, I illustrate, in a very practical way, how to be able to attract productive investments from China and, at the same time, limit predatory take-overs. My vision is based on the fundamental difference that exists between take-overs of existing companies and green-fields operations.