Sébastien Le Belzic (in Beijing), edited by Alexandre Dalifard 06:18, March 27, 2023This is Beijing's response to the Davos forum. The China Economic Forum held in Beijing this weekend rolled out the red carpet for a large delegation of big bosses, especially American ones such as Apple CEO Tim Cook. Objective: to seduce multinationals.
Like a pop star Tim Cook toured his stores in Beijing. On Saturday, the Apple boss traveled to China to attend the China Development Forum, an event organized by the Chinese state attended by senior government officials and personalities from the entrepreneurial sector. Tim Cook is part of a large delegation of American CEOs including that of Pfizer and Blackrock invited to the major economic forum. Objective for Beijing: to seduce multinationals frightened by three years of pandemic and the trade war with Washington.
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"Responsible for about a quarter of global growth"
The director of the American firm Boston Consulting Group is rather confident. "We have seen a return of dynamics, demand, factories that are producing more and more. I am therefore convinced that China will return to 5% growth and thus be responsible for about a quarter of global growth," he said.
China is making soft eyes at the Americans while at the same time the American authorities are hunting down Chinese companies like TikTok, the social network that could be totally banned in the United States. American companies fear paying the price for this battle. This is particularly crucial for Apple, which sells 20% of its products in China.