(September 14, 2012, New York) All eyes were on China, when the GDP figures for the first quarter of 2012 were released and China's GDP was up only 8.1 percent, the slowest quarterly expansion since the second quarter of 2009. However, the slowing growth of China should not be overemphasized as the nation is currently undergoing a structural shift from resources and investment driven growth to a more balanced and more sustainable pattern through innovation, reformation of the financial system and rebalancing of the economy. Xi Jinping's 100 first days in office would need to attest to that.
China, despite some problems, remains on a roll. Its economy has rapidly expanded to second largest in the world, with GDP continuing to advance in the high single digits. Its military budget has grown 10-plus percent annually for more than a decade, growth that is likely to continue for years. Meanwhile, U.S. economic confidence and outcomes remain afflicted by the 2008-09 financial crisis, and our military is wrestling with budget cuts as we address our fiscal deficit.
The United States is far stronger and wealthier than China and will remain so for years. But the balance of resources and capabilities is shifting. And nowhere is that more acutely felt than in Asia, where visions of the future cast a long shadow over current perceptions around the region. As President Obama has stressed, Asia is the most vital region for sustained American prosperity.
Golden Networking's China Leaders Forum 2012, "Political and Economic Challenges for Xi Jinping, China's President-in-waiting", October 2nd, New York City, will examine the political and economic challenges facing China nowadays and the long-term opportunities that will be created in the world's largest economy by 2016.
China Leaders Forum 2012 will provide attendees with the responses to the above-mentioned questions and the most up-to-date review of where the Asian giant stands and the challenges and opportunities for businessmen looking to expand their business with China when others only see growth contraction.
Recognized experts, regulators, and strategists, will return to China Leaders Forum 2012 in its fourth edition to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.
China Leaders Forum 2012 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to email@example.com.