“China is Back” Hot Topic at DAVOS Submit
Concerns have been raised by the global elite at Davos about China’s potential reopening and its implications for inflation.
Economists warn that if this is the case, the U.S. Federal Reserve may need to raise rates even more.
Davos CEOs are told by Beijing’s top economic advisor that China is back
Liu He makes a pitch for the country’s reopening during a private World Economic Forum lunch
While China’s economic opening might increase global growth, policymakers and business leaders at the World Economic Forum this week are concerned about its potential inflationary effects.
The most talked about topic at the Davos gathering in Switzerland Alps was China’s decision not to accept tourists anymore, but to make it easier to travel abroad.
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This is a major economic event in 2023. The business community is excited to make new deals with the second-largest economy in the world.
However, inflation and living costs are still under threat.
The Slow Return of Big-Spending Chinese Tourists is Slow.
Prior to the pandemic, Chinese tourists were a major source of tourism revenue worldwide.
Many countries around the globe are welcoming back Chinese tourists. They were once the biggest source of global tourism revenue. The travel industry doesn’t expect things to return to their old state even though China has reopened its borders.
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