Forecasting China's Future FII7

The discussion with Mr. Fang Fanglei, a prominent figure in China's capital markets, focused on the current and future economic outlook of China. Mr. Fang highlighted four main economic challenges facing China: real estate, local debts, bad debts of small to medium-sized banks, and consumption. He expressed concerns about the decrease in consumption over the past three years and emphasized the need for an increase in nominal GDP and attention to the exchange rate. The discussion also touched on the importance of a potential meeting between Presidents Biden and Xi for stabilizing U.S.-China relations, as well as the historical context and potential implications of Taiwan seeking independence.