In this episode of People's Daily Talk, we were very pleased to be joined by Dr. Jacob Frenkel, chairman of JPMorgan Chase International, who was speaking at the "Future is Here: Global Leaders on the Changing World" lecture series organized by the PBC School of Finance and the National Institute of Financial Research at Tsinghua University.
He thinks the downward revision made by IMF in October needs to be put into perspective. Ten years after the financial crisis, he thinks, "We are now in a year in which all regions of the world are experiencing positive growth."
However, he also acknowledges that there are some clouds on the horizon for the global economy. The major cloud comes from trade interventions. This can create psychological uncertainty that may prevent investors from investing, he said.
He commends China's efforts on the dramatic structural change of the economy, which has contributed to the great transformation from relying on exports to relying on domestic demand.
When talking about trade disputes between China and the US, he said two "giants" cannot afford being in conflict.
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(Produced by Ni Tao, Zhao Dantong ,Qiao Wai, Yan Yiqiao and Yao Xia. Story written by Ni Tao)