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Xinhua Silk Road
Economy

Interview: PwC global chairman optimistic about China's economy

January 17, 2023


Abstract : The global chairman of PricewaterhouseCoopers (PwC) said on Monday that he was bullish on the economic outlook of China, given its strong consumer base, technological advancement and top exporter's position.

DAVOS, Switzerland, Jan. 16 (Xinhua) -- The global chairman of PricewaterhouseCoopers (PwC) said on Monday that he was bullish on the economic outlook of China, given its strong consumer base, technological advancement and top exporter's position.

"You've got a large domestic base of consumers that still has a lot of needs," Bob Moritz told Xinhua at the ongoing World Economic Forum (WEF) in Davos.

The executive said China is probably one of the most advanced countries in the world in its "use of technology in new and different ways."

On the other hand, China, as a top exporting country, has the potential to become a world leader in the production of high quality consumer goods as well as technological development.

In October, the International Monetary Fund (IMF) cut its global economic growth forecast to 2.7 percent for 2023, but forecast a 4.4 percent growth for China.

Commenting on the prospective growth of mid-single digits, Moritz said it is important for both China and the world "as we think about how it impacts sources, goods, services and economic development."

Moritz emphasized the importance of globalization, as more trade and business cooperation between China and the rest of the world will be needed.

"Globalization has been thought about sometimes ... (as having) no meaning anymore. I would disagree with that," he said. "The world needs global trade."

"The world is dealing with problems that are not country specific and bounded by geographic borders ... We have to rewire the world thinking about how to solve our problems. We have to get all the players at the table," he said.

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Keyword: WEF China economy

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