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Rich Turrin

Rich Turrin

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China’s Economic Slowdown: What CFOs Should Know

December 10, 2022 by Rich Turrin

Although China has some legitimate economic issues, is the country’s potential for long-term growth being overlooked by the West?

Great interview on CFO.com by Adam Zaki! Thank you Adam!

Full article: here

“The biggest issue that China needs to tackle is how to manage a phased re-opening as China transitions from its zero-COVID policy,” said Turrin. “The government has been clear that this policy will be with us for a while longer, but in the interim, the government could deliver a solid boost to the economy by outlining plans for a phased or gradual reopening.”

Evergrande is the poster child for excessive debt financing and shockingly poor corporate management. — Richard Turrin

With this, Turrin believes the Chinese economy is far from being down for the count. “Betting against China’s ability to produce just about anything is a sucker’s bet,” he said.

“The U.S.-China chip war is big,” Turrin said. “With the most recent ban on all chip-making gear with U.S. intellectual property and high-end chips, the U.S. is essentially declaring war on China’s high-tech ambitions. The intent isn’t just strangling China’s access to chips but its ability to make them,” he continued. “What makes this such a significant move is the U.S. is putting its ‘containment’ policies on public view with little expectation that U.S. allies and the U.S. chip industry will foot the bill.”

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Rich Turrin

About Rich Turrin

Rich Turrin is the international best-selling author of “Cashless – China’s Digital Currency Revolution” and “Innovation Lab Excellence.” He is an Onalytica Top 100 Fintech Influencer and an award-winning executive previously heading fintech teams at IBM following a twenty-year career in investment banking. Rich is a leading media commentator and advisor on China’s digital currency and tech scene. Living in Shanghai for more than a decade, Rich experienced China going cashless first-hand.

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