Experts' view
Focus on China: from export to consumption
The escalating trade war this year has caused uncertainty in the financial markets and left its mark on the Chinese economy. Transforming the Chinese economy from less export- to more consumer-based growth therefore seems all the more important.
The Chinese economy has been undergoing a period of transformation for several years now. The Chinese authorities are aiming to reduce dependency on foreign trade, while in turn, it is hoped that private consumption will gain in importance. The trade war, which was unleashed by US President Donald Trump, has highlighted the urgency of the change being pursued. Dr Felix Brill, Chief Investment Officer of VP Bank, looks at the current situation in China and argues that the rise of the Chinese consumer is set to remain an important theme going forward.
