SAN FRANCISCO, CALIFORNIA, July 18, 2024 - Asia Society Northern California hosted an executive roundtable on China’s Domestic Economy and Global Outlook with Andy Rothman, Investment Strategist at Matthews Asia, and Melissa J. Ma, Co-Founder and Managing Partner of Asia Alternatives. Speakers Rothman and Ma delved into the current status of the Chinese economy, its challenges, and its future implications.

Ma and Rothman shared their insights on the current state of China's economy, drawing from their recent trips to Beijing. They discussed the China Confidence Crisis (CCC), highlighting the lack of confidence among consumers and businesses that is impacting the economy, leading to weaker demand and supply. Ma noted that economic uncertainty has raised concerns about China's economic growth, with foreign investors questioning the country's investability due to changing government regulations and transparency of transactions. Rothman emphasized the entrepreneurial shift in China, where 90% of employment is now in the private sector, leading to a more dynamic and innovative business environment. He also pointed out the bifurcation of investor sentiment, with some sectors like tech and AI continuing to grow while others remain flat.

The speakers engaged with guests, sharing their perspectives and answering questions on the future of China's economy and its implications for businesses and investors. Ma offered a hopeful thought on the potential for China to balance pragmatism with ideology, driving economic growth and resilience through entrepreneurship and innovation. She concluded by framing the US-China relationship as a competitive dynamic in technology and economics, rather than a zero-sum game, highlighting the complexity of their interconnected interests.