at imf: lot of work low income nations
for last 6 yerars china bigest powerhouse for world growth including 50% growth 2009 - will this continue -likely to be at lweast third of grwith (note however world is in low growth environment of 3.1%)
-so main drive force for world growth
-expecta griowth lof china at 6.5% - structural shift to service consumption - key ossue quality of growth improves- whole economy more balanced
need to focus on real economy - capital economy is very high risk and should not be main china route
we need to focus on innovation , knowledeg ased manufafturing
coming meeting trump and jinping - issues that need solving
trade tension: this is key relationship (600 bn $ trade?) -impriving productivity sectors important for both sides - if 2 sides can find mutial intersts that will be good enws for whole world-
service scetor 70 to 80% of usa - cant expect usa will go less than this (didnt move at all during obama era)
isnt the issue the saizeable midde]le calss us needs
-resilece of chiense growth: we need to compenaste coming losers of our economy giving them compenastion in education and safety net eg in health
-the multinational institute can play an important role in stabilising economies (not bilateral)- bring more emerging market experience into international institutes at imf- need to focus on supply side policy
next few months critical for sin-us relations- xi jinping did fantastic job at davos welcoming cooperation with all nations
(kissinger co-evolution lof ghe 2 big economies is needed)
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