Wed, 25 Jun 2025

Wed, 25 Jun 2025 Turmoil and trade wars dominate China's 'summer Davos'

The conflict between Iran and Israel adds further uncertainty to an already strained global outlook.

* The World Economic Forum (WEF) meeting in Tianjin has highlighted the complex geopolitical and geo-economic backdrop, with WEF President Borge Brende warning that if growth is not revived, we could see a decade of lower growth.
* Trade tensions and tariffs have upended supply chains and made it difficult for businesses to plan for the future, says professor Jeffry Frieden of Columbia University.
* Geopolitical risks can lead to losses in various areas, including energy costs, inflation, and disruption to tourism activities.
* China's economy is particularly vulnerable due to its reliance on oil imports from Iran, with 90% of Beijing's oil coming from Iran.
* The WEF event has provided a platform for China to promote itself as a champion of globalization and present an opportunity for the country to step up as a regional and global player.
* Emerging technologies like Artificial Intelligence (AI) are seen as potential sources of growth, with PwC predicting that AI could boost global growth by 15% by 2035.
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