Presentation by Prof. Dr. Norbert Walter in Shanghai Go back »

2006-08-22 | Shanghai

Presentation by Prof. Dr. Norbert Walter in Shanghai

On August 22nd, the European Chamber in Shanghai was delighted to welcome Prof. Dr. Norbert Walter, Chief Economist at Deutsche Bank, to deliver a presentation entitled, "World Economy's longest ever recovery about to end". The presentation gave members a macro-view of how the prominent world markets, those of the USA, Japan and the Euro zone themselves are developing, and how that development will in turn affect the overall development of the world economy. Prof. Dr. Walter also highlighted the symbiotic nature of these economies through globalization and the fact that the developing markets now play an active role in the direction of the world economy.

Outside of particular markets, there are, of course, important common-denominators that will affect all economies. Natural resources and political stability in crucial areas will continue to have serious implications. The distribution of US Treasury Bonds and how Central Banks decide to invest will also continue to be important reference points for judging how the world economy will change. Prof. Dr. Walter called on Europe to work harder, both literally and figuratively, suggesting that working an extra 400 hours per year in the European Union would go some way to stimulating the current sluggish growth.

He concluded with the role that China is playing. Prof. Dr. Walter firmly believes that the development of the rural sector in China is crucial to sustaining the high levels of growth that are currently being experienced. Issues of China's demographics were also highlighted as potentially having a significant influence on growth in the years to come.

The presentation was followed by a lively Q&A session. The professor's words were accessible, informative and entertaining. The European Chamber would like to thank him for his time. We would also like to thank our partners for the event: the German Chamber, The China-Italy Chamber of Commerce, the Irish Business Forum and the Trade Commission of the Austrian Consulate. 

Click here for a copy of the presentation.