Singapore: China, which was once seen as the foremost champion of globalization could face serious obstacles in its path to reviving its economy and will likely have to face isolation with global investors seeking other avenues, according to business conglomerate Gautam Adani.<\/p>\n
Adani listed out increasing nationalism, supply chain risk mitigation, and technology restrictions among the challenges that could impact the second largest economy in the world.
\nAdani made these remarks while delivering the keynote address at the 20th Forbes Global CEO Conference held in Singapore.<\/p>\n
The Adani Group Chairman cited China\u2019s housing and credit risks ad compared it to what happened to Japan\u2019s economy in the \u201clost decade\u201d of the 1990s.<\/p>\n
He said that while he expects all these economies will readjust over time \u2013 and bounce back \u201cbut the friction of the bounce-back looks far harder\u201d this time around for China.<\/p>\n
\u201cI anticipate that China \u2013 that was seen as the foremost champion of globalization \u2013 will feel increasingly isolated. Increasing nationalism, supply chain risk mitigation, and technology restrictions will have an impact. China\u2019s Belt and Road initiative was expected to be a demonstration of its global ambitions, but the resistance now makes it challenging,\u201d he said.<\/p>\n
In his nearly 30-minute-long address, Adani also spoke about India\u2019s economic prospects. Talking about India, he said it\u2019s economy is far from perfect but the essence of the country\u2019s democracy lies in its imperfection.<\/p>\n
\u201cWhat many see as India\u2019s imperfections reflects a thriving and a noisy democracy. Only the free can afford to make noise \u2013 to have their imperfections visible. To over-manage this would be to destroy India\u2019s unique ability to express its diversity,\u201d Adani said.<\/p>\n
Adani, who recently surpassed Amazon CEO Jeff Bezos to become the second richest man in the world, pointed out that India has just become the world\u2019s fifth largest economy and is posed to be the world\u2019s third largest economy by 2030.<\/p>\n
\u201cThe fact is India\u2019s real growth is just starting \u2013 as it goes from its 75th year of freedom this year \u2013 towards its 100th year of independence. Our country calls this period \u2013 Amrit Kaal. Meaning the perfect period for beginning a better tomorrow,\u201d he said.<\/p>\n
Envisioning the next 25 years of India, Adani said,\u201dIndia will comfortably become a country with 100 per cent literacy levels. India will also be poverty-free, well before 2050.\u201d<\/p>\n
He said India will also be the country that attracts the highest levels of foreign direct investment given the sheer scale of consumption of 1.6 billion people.<\/p>\n
\u201cWe will be the country that will go from a 3 trillion-dollar economy to a 30 trillion-dollar economy, a country with a stock market capitalization of 45 trillion dollars, and a country that will be supremely confident of its position in the world,\u201d he added.<\/p>\n
Further elaborating on growth opportunities in India, Adani said India is full of incredible opportunities and its real growth story is just starting.<\/p>\n","protected":false},"excerpt":{"rendered":"
Singapore: China, which was once seen as the foremost champion of globalization could face serious obstacles in its path to reviving its economy and will likely have to face isolation with global investors seeking other avenues, according to business conglomerate Gautam Adani. Adani listed out increasing nationalism, supply chain risk mitigation, and technology restrictions among […]<\/p>\n","protected":false},"author":1,"featured_media":9557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-9556","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/9556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9556"}],"version-history":[{"count":1,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/9556\/revisions"}],"predecessor-version":[{"id":9558,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/9556\/revisions\/9558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/media\/9557"}],"wp:attachment":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}