Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 25

Expert comment: Why are China and the UK’s economic ties now flourishing?

Posted by fidest press agency su domenica, 25 ottobre 2015

pechinoKamel Mellahi, a Professor of Strategic Management at Warwick Business School who has researched a number of issues on the Chinese economy, has made the following statement:“The UK and China need each other more than ever in confronting their internal economic challenges. But the fact remains that at this point in time the UK needs Chinese investment more than China needs UK investment opportunities. This perhaps explains why the UK is rolling out the reddest of red carpets for the Chinese government delegation.“That said, each country contributes distinct but complementary resources and capabilities to the economic partnership. The UK gets the badly needed investments into its infrastructure, including its nuclear power plants, high-speed rail, and potentially becomes the key trading centre for China’s currency, and China gets the chance to use its outstanding capabilities in mega infrastructure projects, obtain a strong foothold in key infrastructure and energy sectors in the UK and use some of them as ‘shop windows’ to promote its capabilities to other countries, as well as open up an offshore renminbi debt market.“When it comes to trade and economic ties with China, not long ago, the UK was trailing behind major European countries but it has been working flat out to make up for lost ground and get in front of the queue. The UK is the first Western country to seek to join the Asian Infrastructure Investment Bank and has been very open and encouraging Chinese investment in the UK economy.“When one cuts through the rhetoric and bombast headlines, two things emerge. First, the new emerging relationship between the UK and China is a strategic response by two major world economies to a changing global economic landscape.“Second, China and the UK are waltzing to the same tune because their economic interests are currently in alignment. Economically, it looks like a win-win economic alliance.”


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