Is China raising or simply taking back the role that it has always had? How can the West understand and face this reality? With Biden there will be less focus on trade balances, hence good for EU and Italy which enjoy a surplus with the US. However…
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.