Zina Brik, director of the Middle East region credit department at Allianz Trade, said indicators of the Chinese economy at the moment show it was moving in the right direction.
In an interview with Al-Arabiya, Brik explained that there are positive increases in the private sector in China, and these increases are expected to continue next year at a rate of 8.5%.
He stressed that China’s economy will not grow as fast as needed to help the global economy grow.
In its latest report, Allianz indicated that global trade deteriorated in the second half of 2022, expecting it to remain unchanged throughout the year. in course.
However, Allianz has indicated that the reopening of the Chinese economy will reduce the risk of a sudden shutdown of global supply chains and support global demand during the year. in course.
As for commercial stocks, the report predicted an increase in supply in 2023 in light of declining demand and the improving situation of the supply chains.
For his part, Kraneshares chief investment strategist Anthony Sassin said China’s economy was poised for an upturn amid big government incentives and work to mitigate all the risks facing investors.
Sassin added, in an interview with Al-Arabiya, that Goldman Sachs expected last November that Chinese stocks would rise by 20%, so the expectations have increased to 24% at the current time.
He specifies that “Goldman Sachs” has improved its expectations on the imminent reopening of the Chinese economy in the second quarter of quest’year, in in line with the expectations of “Kraneshares”, which estimated a greater opening after the end of the first quarter.