Future Generali

How will China recover economically from this crisis?

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Rakesh Wadhwa:

What we hear at least in the news is that China is sort of coming back to what they were. There's good progress to the economy. What if this turns around in the next three, four months, or let's say five months and we are all here trying to transform our business. Would that not be futile or is there absolutely no possibility for it to come back to normal?

 

Ajai Chowdhry:

You see China will recover and China has already started their factories. They are already running for the last 30, 40 days. The situation is that a lot of their businesses have pivoted to supplying COVID type of products and COVID type of services. So they are actually very aggressively going after that market that is available to them. But I think there is a psychological issue today. How many Italians would like to buy products from China? I've heard many interviews of Italians and they say, my God, we are not going to buy anything. Chinese. We don't like to buy anything Chinese. America, right down from president Trump and everybody they're all talking about China. Australia, for example, was already talking about going to put a case on China. So there's a lot of anti China situation today, which we should take advantage of. So I think that is not going to die away. People are not going to forget that relatives died due to COVID. People are unlikely to forget so soon.

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