Where is the Chinese Economy Headed?
The exhibition “Chinese Whispers” in Bern, consisting of pieces from the collection of Asia Society Switzerland trustee Uli Sigg, gives an insight into contemporary Chinese art. Asia Society Switzerland teamed up with the Center Paul Klee, where part of the exhibition is on display, for a series of panel conversation around “Chinese Challenges”.
The last of the three events on May 24 focused on the Chinese economy and its challenges. It featured Jixin Dai, Founder and CIO of Xin Tian Fund Management Company Ltd, Danny Zheng, Vice President of Marketing of DJI, and Uli Sigg. Acclaimed journalist Martin Meyer facilitated a discussion that highlighted in particular the overcapacity challenges in many industries in China. Jixin Dai argued that for China to be able to adjust to slower grow it must use its overcapacity to de-leverage, and policy makers must adjust its economic structure. Meanwhile, Danny Zheng shone a spotlight on China’s technological innovation: Shenzhen-based DJI is the world’s leading maker of civilian drones, with currently 70% of the world market.
Participants at the panel did agree that China is fertile ground to develop new technologies, and that despite contrarian perceptions from abroad the government is supporting actively the advancement of „made in China“ products. The next challenge will be on how to turn the world’s largest production center into the world’s largest consumer center.