Todd Bishop
The 11th Lujiazui Forum was held in Shanghai recently. Zhou Xiaochuan, former president of the People’s Bank of China and president of the China Finance Association, said at the meeting today that it is impossible for developed countries to fundamentally block emerging markets and developing countries, especially China’s scientific and technological progress. He also believes that in the face of trade frictions, the policy of “ruling the roots” in the short term is a trade policy.
Zhou Xiaochuan pointed out that China may lead in many aspects in the future, and in some respects will create a lot of new technologies and new products with great market potential. “This may not be able to stop it.”
The Sino-US trade war continues. Zhou Xiaochuan believes that the trade problem must be solved by trade policy, that is, through trade negotiations and WTO reforms, the wrong trade policy will return to normal. This is the right medicine.
Faced with the significant decline in China’s exports to the United States in the first half of this year, Zhou Xiaochuan said that the reduction in Chinese exports to the United States can be exported to other countries through the expansion of sales channels. “China has great potential in this area because China’s products are all It is a good thing, product quality and price are reasonable.”
Zhou Xiaochuan made recommendations to Chinese companies. He believes that even if the demand of the US market is less than several hundred million, there are still many places where products can be sold. However, opening up new pipelines is also a challenge for companies. “Chinese companies should do some homework and spend two or three years patiently doing this.”
