Managing the Impact of Geopolitical Changes on Your Business in China
Over 2023, the global landscape underwent various international crises, from the protracted conflict in Ukraine to the unrest in the Gaza Strip, which have had far-reaching negative effects on the global and regional economy. For all the economic worries of a real estate crisis, government debt overload, and high youth unemployment, China looks to have managed an acceptable 5+% year growth off its low base of 2022 and the outlook for 2024 is subdued at around 4+%. Against the backdrop of significant geopolitical shifts, the evolving dynamics between China, the European Union, and the United States — the world's leading economic powers — are central to understanding the future direction of international business and commerce.