China, Socialism & Consumer Behavior: looks to its own consumers

China is rebalancing its economy to focus more on domestic consumption than exports in order to achieve its growth target, Chinese Premier Wen Jiabao has said. Addressing an Asian regional forum in southern China, he announced a $10 billion Yuan (over 1.5 billion US dollars) fund for infrastructure projects in south-east Asia.

The Boao Forum for Asia has been dubbed the Oriental Davos.

Politicians, business leaders and academics are discussing Asia’s response to the global downturn.

China’s economic performance and its influence abroad have become the focus of attention at the annual conference in Hainan Province, says the BBC’s China Editor, Shirong Chen.

Mr Wen has tried to inspire confidence in neighbours hit badly by the global economic crisis, our correspondent reports.

More foreign dignitaries have attended this year than before, including Pakistani President Asif Ali Zardari, New Zealand Prime Minister John Key and Vietnamese Premier Nguyen Tan Dung, as well as ex-US President George W Bush.

Nearly two dozen Chinese government ministers are also in Boao to debate with other delegates on how to manage beyond the crisis and what role the emerging markets can play in reforming the international financial system.

Itamar Medeiros

Originally from Brazil, Itamar Medeiros currently lives in Germany, where he works as Lead Product Design Strategist at SAP and promotes User Experience Design as visiting lecturer at Köln International School of Design. Working in the Information Technology industry since 1998, Itamar Medeiros has helped truly global companies in several countries (Argentina, Brazil, China, Germany, Hong Kong, India, Mexico, The Netherlands, Poland, United Arab Emirates, United States) create great user experience through advocating Design and Innovation principles. During his 7 years in China, he championed the User Experience Design discipline as User Experience Manager at Autodesk and Local Coordinator of the Interaction Design Association (IxDA) in Shanghai

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.