Jeffrey Sachs: China's Green Tech and Opening-Up Driving Economic Shift to Asia
What happened
Jeffrey Sachs stated that the shift of economic weight from the West toward Asia is already visible. He noted that China's resolve to open its market, combined with green development and technological innovation, offers stability and new growth avenues globally. Sachs added that Asia could represent 50 to 60 percent of the global economy in the coming years.
From chinadaily.com.cn
Why it matters
Officials and experts cited in the report stated that China's openness could serve as a necessary anchor of stability for the world economy amid rising protectionism. The movement toward shared growth and inclusive development is seen as key to global economic rebalancing.
From chinadaily.com.cn
Who's involved
- Jeffrey SachsAmerican economist who commented on the shift of economic weight toward Asia.
- Columbia UniversityPrivate university where Jeffrey Sachs holds a professorship.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Latin AmericaSpeculative
Latin American exports might shift toward Asian demand as the region's centrality increases.
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The entities involved
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Jeffrey Sachs
American economist (born 1954)
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Asia
American pornographic actress (born 1986)