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Economic & Political Update 2017

On the 12th of January, Danish-Chinese Business Forum held a Member Meeting looking closer into the economic and political forecasts for 2017. The event was kindly hosted by Danske Bank at their Headquarters in Copenhagen.

Many great presentations were given on the day to our members, and the speakers shared their view on the coming year based on their different areas of expertise. The first speaker of the day was Jens-Anders Stenled Palmqvist, Chief Representive at Danske Bank in their Beijing Office. He told the members about the establishment of Danske Bank in mainland China, in contrast to Hong Kong where Danske Bank had opened years before. The many lessons were shared and was followed by several follow up questions from the audience.

The second presentation was given by Allan Von Mehren, Chief Analyst at Danske Bank, who shared his economical forecasts for China in the coming year. His three main points of his presentation were:

1) China will experience a growth slowdown – but no hardlanding
2) We might see a clash with the US on Taiwan and trade issues
3) Further weakening of the renminbi

The third speaker was Kjeld Erik Brødsgaard, Ph.D. Professor at Asia Research Centre, Copenhagen Business School, who presented the political landscape and his expectations of 2017. He commented on the approaching leadership transition where several leaders, according to "unwritten rules", have to step down as a result of their age. However, Kjeld Erik Brødsgaard believes that chances are that the 69-year old Wang Qishan, Secretary of CCDI, will stay due to his important role in the anti-corruption work and in foreign policy - which is an increasingly important issue due to US President Donald Trump's hard tone with China.

The fourth to present was Stig Larsen, Business Development Director, Grundfos China, who involved the audience in the process of moving business towards the western and central parts of China. According to Stig Larsen, the lack of branding in smaller tier cities is crucial, since he believes the three most important managerial excercices to be:
1) Finding the right people
2) Developing the right people and,
3) Retaining the right people

See the interviews with Allan, Kjeld Erik and Stig here