Chinese GDP growth accelerated to 6.9 percent last year from 6.7 percent in 2016, but Chinese authorities have set the forecast for 2018 at about 6.5 percent. “From our point of view, the impact on the Russian and other world economies will be more affected not by the change in the GDP growth momentum, but rather a fast change in the GDP structure — the development of the service sector, including electronic and IT services, as well as the country’s proactive position in the international economic arena,” Ivlev told Sputnik. The Way to Openness On Monday, Chinese Premier Li Keqiang said that his country would fully open the manufacturing sector for foreigners and significantly simplify access to a number of other areas — telecommunications, medicine, education and cars on “clean” fuel. The Chinese authorities have also promised to gradually open the market of electronic payment prepossessing for foreign investments, and to remove restrictions or simplify the participation of foreigners in banking, securities and fund management. © AP Photo / Win McNamee/PoolTrump’s Global Trade War Could Lead to Financial ArmageddonIvlev explained that China’s foreign policy will lead to gradual shifts in economic inter-industry models. The intensity and characteristics of these shifts will depend on the geographical proximity of the markets to China and their features. The high activity of Chinese mergers and acquisitions (M&A) globally and within the geography of the Silk Road project, globalization initiatives in the banking… Read full this story
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