China: ‘Recalibration of a global powerhouse’

CGTN Europe

“AI has the potential to unleash a lot of benefit and augment what people do,” Milton Cheng, global chair of leading law firm Baker Mackenzie told CGTN at Davos #davos2024 #wef

Transcript

00:00 It is still second largest economy in the world,

00:05 incredible consumer base that is not only,

00:09 historically has been helping with manufacturing

00:13 for the whole world,

00:13 it's driving consumer,

00:16 driving consumption with a growing middle class.

00:18 So that's going to be important.

00:20 Yes, there are some structural issues

00:22 that the Chinese government is taking action

00:25 to stabilize or to address.

00:28 But when you look at some of the areas

00:31 that they are recalibrating towards,

00:35 whether it's in moving away from infrastructure

00:36 and real estate to high tech,

00:39 to the green economy,

00:42 to pharmaceuticals or health care

00:46 and life sciences generally,

00:48 those are areas that are going to be driving

00:50 global growth in many respects.

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