Global CEOs Agree with Chinese Premier on Economic Outlook

China’s economic outlook is top of mind for global CEOs, but most are confident slowing growth will be well-managed and plan to pursue expansion plans in the mainland.

“Slowdown risks aren’t scary at all; it’s expected and a natural evolution in the development of China,” Mark Tucker, group chief executive and president at AIA, Asia’s second-largest insurer by market capitalization, told CNBC on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing on Monday.

“We have a great business here and we’re looking to expand. We’re very excited about the future,” he said.

In an effort to sooth concerns around the health of the world’s second largest economy, Chinese President Xi Jinping over the weekend told a group of business leaders at APEC that risks to the economy are “not that scary”.

He highlighted that if China’s economy were to grow 7 percent, it would still rank at the forefront of the world’s economies.

Commenting on the speech, Tucker said, “[Xi] was very open, clear, progressive, constructive and optimistic, which was a terrific combination.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza