It was a statement made by Paulo Portas during the GS1 Portugal Congress – (De) Encoding the Future: Challenges of the New Age, in which he made it clear that the crisis we are experiencing is asymmetric and that it will take time to recover.
In his speech on the global crisis and recovery from COVID 19, the former Deputy Prime Minister mentioned that for a sustained economic recovery, it will be necessary to reclaim the three main axes of globalization – open and free trade, international investment and innovation. which he considers to be the heart of the value-added economy.
During the meeting, Paulo Portas stressed the importance of Asia, in particular China, in the global economy. “Europe has allowed itself to surpass itself in terms of innovation and population demographics. Now China is the main supplier, main buyer, main partner and main recipient of foreign investment, ”he said. However, Paulo Portas warns that not only the geography of economic growth has changed, but also the “geography of risk,” which is now also in Asia.
“After a few decades, China ceased to be an agricultural country and became one of the most developed economies in the world, surpassing even the United States,” he said. Paulo Portas also warned of “progressive inflation, the main enemy of the poorest and, as a result, interest rates that will surprise everyone.”
Related Articles:
