From 13 to 15 September, a delegation from Smart-Holding took part in the annual Summer Davos Forum held in Tianjin (China). The representatives of the company expanded the circle of potential partners, discussed trends observed in the global economy and in the industrial sector, in particular.
This year, the fourth international meeting bringing together representatives of business, science and political circles was held under the motto ’Continued growth through sustainable development‘ and gathered around 1,500 participants from 90 countries and regions of the world. The forum discussed the development streamlines of the global economy and recovery from the crisis. One of the principal conclusions made by the participants manifested that in the coming years countries of Asia would ensure global economic growth. China will remain the driver of this growth in the medium term due to its active urbanization: building of housing and implementation of infrastructure projects.
‘Recently, the attention of economists was riveted to China and developments in this country. If China had not demonstrated its current increase in production, the crisis would have reached the ‘second bottom’ and we would have become witnesses and participants of the global recession similar to the one that came from the United States in 1929,’ said the first deputy CEO of Smart-Holding for finance, Denis Rudev.
That being said, growth trends contemplated in Asia suggest the possible end of the world economic meltdown. The participants of the forum came to the conclusion that the GDP of Asian countries, and especially that of China, will be growing up by an average of 8-10% per year in the next decade.
Urbanization in China will entail continued growth in demand for iron ore and steel, which can lead to price rises for these products. It is also expected that in the course of 5-10 years, prices for basic energy sources will continue growing. These trends will enable countries with emerging economies and abundant primary resources to show their significant economic growth.
‘Participation in the forum gave us a chance to expand our base of potential partners, primarily among the representatives of the African continent – Zimbabwe, South Africa and other countries that are deemed promising in terms of economic growth and availability of raw materials,’ said Denis Rudev.
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In January 2010, Smart-Holding became an industrial partner of the World Economic Forum, a non-profit international organization that unites the largest companies of the world. Starting from 2007, WEF holds an annual meeting in China bringing together representatives of different countries from business, science and politics, which is called Summer Davos.