In the media | 04 Jul 2024
SFC Markets and Finance: China strives to lead in tech innovations
At the mid-year, SFC Markets and Finance invited Oxford Economics’ CEO Adrian Cooper to share his insights on global economic outlook and China economy.
Highlights of this interview:
- The slowdown of world economy has been less marked than many commentators anticipated.
- The Fed is looking at the strength of the labor market in the United States, so it doesn’t feel in a hurry to bring interest rates down to offset a potential significant slowdown in the economy. It’s likely that we will see one or two cuts in interest rates through the second half of this year and then more cuts through 2025.
- The US election implications are an important risk to the global outlook, particularly if President Trump is given a second term in the White House and implements some of the trade protectionist measures. Regardless of who is president, more restrictions on trade are likely after the presidential elections and in the next few years.
- Political uncertainty building in Europe is not helpful for consumer and business confidence and may drag on growth. However, more fundamental challenges, such as competitiveness and demographics, are at play.
- Technological innovations, such as AI, can boost global economic growth, and China is striving to lead in these advancements.
Watch the full interview below:
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