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“The most important capital of any company is its people.”

Shanghai

The Defining Economic Journey of our Times

It used to be said that when America sneezed the rest of the world caught a cold. This axiom is now increasingly applied to China, whose remarkable ascent since the reforms of the late 1970s has provided arguably the defining economic story of the late 20th and early 21st centuries.

In 2014, according to one measure of GDP used by the International Monetary Fund, China finally surpassed the USA as the world’s largest economy.

This interpretation may be open to debate, but the nation’s economic superpower status is beyond dispute. Although the extraordinary growth of recent years is unlikely to be sustained, China now sits at the heart of the worldwide economy.

Most global businesses are exposed to China – significantly so in the case of many FTSE 100 companies. Like the USA before it, it cannot be ignored.

Shanghai, where our Chinese operations are based, is rapidly becoming a considerable force in Asia’s financial sector. The Chinese government wants Shanghai to rival New York and London by 2020 – and few would bet against the realisation of this ambitious goal.

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