"Our annual Congress ended a few days ago. I am sure that you read a lot about it. The Congress elected a new leadership, which will set policy for the next five years. China is still dealing with many challenges. The global economy is dealing with a crisis, and unemployment in developed countries remains high," said China's Ambassador to Israel Gao Yanping at the 2012 Israel Business Conference today. She added that there were many multimillionaires who were very interested in investing in Israel.
"The developed economies are suffering from inflationary pressures. The crisis in Europe is worsening, increasing uncertainty. Global trade grew by only 2%, far less than in previous years. China's growth rate has improved, reaching 7.5% in the past three quarters. China is trying to improve the international investment climate. According to the IMF, an objective organization, China is going through a soft landing. Our main objective is to encourage sustainable and equitable growth," said Yanping.
Yanping added, "China has become the world's third largest trade partner, and the largest in Asia. Trade with has grown 200-fold in the past few decades. This connection will only strengthen in the future, and will each time yield more tangible advantages to all parties, including more jobs. I believe that the new five-year plan will offer Israelis new opportunities, which will translate into fruitful collaborations for both sides. During the last crisis, Israeli trade with the US and Europe weakened, and China should now become your main export destination. These commercial ties are not without difficulties - both governments should do everything to remove barriers, such as the delay in bringing Chinese workers to Israel."
Tel Aviv University Rector Prof. Aron Shai, a China expert, said, "China's role in the global economy will continue to grow. I do not see any major change in this regard. The less optimistic side says that China has exceeded its ability, and that it is heading for a permanent slowdown. I was there three weeks ago, and I must admit that the leader spoke openly and sharply about the problems facing China, such as corruption and unemployment, and this is a good very thing. By the way, all the dire forecasts about China never materialized. Nonetheless, the Chinese economy is not transparent, although there has been progress. China has had immense achievements, and it's very hard to argue with the facts. However, there are still worrying signs, such as inequality, corruption, and gaps between the cities and the countryside."
Published by Globes [online], Israel business news - www.globes-online.com - on December 9, 2012
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