Mr Williams’ medium to long-term view is arguably more gloomy than that of Mr Baweja. He believes the 25-30 year period during which growth in global exports far exceeded that of global GDP, represented a “surge of globalisation that has come to an end”. In other words, the current slowdown in trade growth is structural, not cyclical.
3. The government bothlocal and national will invest in more technology-driven sectors, includingadvanced agriculture, transportation, medicine and other sectors. Thisinitiative will be aimed squarely at improving China’s productivity andmanufacturing competitiveness. There will be a national effort aimed atachieving quality, first-time yield and ensuring “productivity driven” globalcompetitiveness.112
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