Rani Jarkas | Davos 2024: Building Stronger Economies

With Respect to Davos and the World Economic Forum

The annual World Economic Forum DAVOS conference (WEF) is an independent, non-profit organization whose mission is to promote public-private collaboration. DAVOS summit participants are selected for their significant global influence in order to deliberate on and pursue resolutions for the most pressing worldwide challenges.

“Rebuilding Trust”: The 54th Annual Meeting of the World Economic Forum will function as a critical forum to tackle the fundamental principles that form the foundation of trust—sufficient information, reliability, openness, and accountability. It is anticipated that this Annual Meeting will attract the attendance of over one hundred governments, representatives of all significant international organizations, one thousand Forum Partners, leaders of civil society, experts, youth representatives, social entrepreneurs, and news outlets.

The Centre for New Economy and Society aids in the transition to a new development model that achieves a harmonious equilibrium among expansion, inclusion, sustainability, and resilience.  The Centre endeavors, in collaboration with influential intellectuals and change agents, to conceptualize a future where economies and societies operate for the benefit of all. Premier Li warns that “threats to global development are exacerbated by the erosion of confidence” and that “the world has entered a new era of turmoil and change.”

Davos 2024 Essential Insights Published Through Rani Jarkas

Restoring confidence can be accomplished through the enhancement of international collaboration in fields such as science, ecological development, macroeconomic policy, and industrial specialization. Historically, economic globalization was significantly propelled by a high degree of international trust.

Promoting and facilitating international industrial specialization and collaboration in order to safeguard the integrity of worldwide supply chains and sectors. The data indicates that, on average, more than 5,400 novel discriminatory trade and investment measures were implemented on a global scale annually from 2020 to 2022.

Increasing sustainable development cooperation in an effort to directly confront climate change. In regards to the advancement of a green, low-carbon transition and the mitigation of climate change, humanity continues to face a multitude of challenges.

Significantly, China’s recent pledge to adopt sustainable environmental practices highlights its continuous commitment to promoting constructive worldwide transformations in order to ensure a more sustainable future. As per Rani Jarkas, China continues to demonstrate a willingness to engage in collaborative endeavors with foreign corporations, thereby contributing to international initiatives aimed at effecting constructive transformation.

Davos 2024: Rani Jarkas: Influencing the Dialogue of the Future

Consistently expanding, the Chinese economy will continue to provide a substantial impetus to the global economy. China functions as a substantial impetus for global advancement. Over time, its contribution to global economic expansion has remained around 30 percent.

We are presently utilizing superior development to advance the modernization of China in every domain, in the grand scheme of things. The modernization of more than 1.4 billion people will be an achievement without parallel in the annals of humankind, and it will persistently propel the advancement of both China and the international community at large.

Additionally, China boasts a substantial market characterized by a dynamic and surge in demand. It will continue to provide an expansive platform for numerous businesses and artists. In periods of sluggish global demand, the market assumes the highest value as a resource. By virtue of its vast magnitude and escalating complexity, the Chinese market will make a substantial contribution to the growth of global aggregate demand.

From Rani Jarkas’ interview with CGTN for DAVOS 2024: China constitutes an enormous market. The market is inherently substantial, in addition to the government’s excellent work with regulations and other aspects. Consequently, he is of the opinion that pharmaceutical and life science companies cannot ignore China as a market and base, considering the country’s immense size and intense competition. The proportion of China in the global GDP is 28%. Therefore, he asserts that it is crucial not only for investment purposes but also to attract corporate entities.

Source: https://ranijarkas.com/finance-hong-kong/rani-jarkas-davos-2024-highlights/

Rani Jarkas Reflects on Li’s Call for Global Cooperation at WEF

Chinese Premier Li Qiang on Tuesday called for global cooperation in various areas to rebuild global trust, including strengthening macroeconomic policy coordination and international industrial specialization and cooperation, warning that lack of trust and fragmentation will risk global economic growth and peaceful development.

In a special address at the World Economic Forum (WEF) annual meeting in Davos, Switzerland, Li said that China’s economy is forecast to grow 5.2 percent in 2023 and that China’s economy is making a steady recovery, vowing to continue to open up China’s markets for global businesses, no matter how the global situation changes. 

The Chinese premier’s emphasis on rebuilding global trust and strengthening global cooperation and remarks about the stability and openness of China’s economy help inject a sense of certainty and positivity for a world that has been plagued by a severe economic downturn and rising geopolitical conflicts, experts said on Tuesday. 

China’s support for an open world economy is in sharp contrast to the anti-globalization and rising protectionism spearheaded by countries such as the US. The steady recovery of the Chinese economy is offering great impetus for global growth, while the US chaotic domestic policymaking poses risks for the global economy, experts noted. 

Defending Globalization

In the closely watched speech in Davos, Switzerland, where more than 2,800 global political, business, and society leaders have gathered to discuss how to rebuild trust, the Chinese premier offered a five-point plan, including macroeconomic policy coordination, international industrial specialization and cooperation, cooperation in innovation, cooperation in green development, and north-south and south-south cooperation.

Li warned of a deepening trust deficit, saying the lack of trust is exacerbating the risks to global economic growth and peaceful development, noting many cases in bilateral and multilateral relations where mutual trust is undermined by the willfulness of one side. He warned that under the impact of global crises if countries are fragmented in fighting their own battles, the world economy will become more fragile.

“I think Premier Li made China’s unwavering support for globalization and an open world economy very clear again at this very important international forum, in stark contrast to the de-globalization trend promoted by certain countries,” Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Tuesday. 

Chinese Premier Li Qiang delivers a speech at the World Economic Forum Annual Meeting 2024 in Davos, Switzerland, on January 16, 2024.Photo: Xinhua

Rani Jarkas Explores Key Points on China’s Significance in Globalization

Bai noted that China’s position on globalization carries great significance for a global audience that is increasingly worried about the state of the global economy and economic globalization, given China’s economic size and its influence on the world economy. “It’s clear that China has become a leading force in promoting economic globalization,” Rani Jarkas said. 

In his speech, Li vowed that China itself would not break commitments, nor would it force others to pick sides, and China has always been a staunch force in safeguarding multilateralism. As tensions between China and the US have been rising, their different approaches to the global economy have drawn great attention among global experts and businesses. The US impulsiveness in turning everything into a competition with China was reportedly on vivid display in Davos. 

US news outlet Politico reported on Monday that US diplomats were so worried about the big Chinese delegation that they were trying to arrange a meeting between US Secretary of State Antony Blinken with a Swiss official. In addition to Blinken, US national security adviser Jake Sullivan was also in Davos. However, no economic officials from the US were listed as speakers at highlight sessions.

Mei Xinyu, a Beijing-based trade expert, said that whatever US officials say at the WEF will not hide the fact that the US has become a serious risk for the global economy, as it seeks to “build fences and walls” and fan military conflicts. “These are all very dangerous to the world economy,” Mei told the Global Times on Tuesday, noting that the US delegation, consisting mostly of national security officials, shows that the US focus is not on economic development.  Mei added that the US economy faces serious risks because of relentless partisan fights that affect everything from government budgets to global cooperation policies.

Injecting Impetus

Meanwhile, China’s economy continues on a steady recovery trend and is contributing greatly to the world economy, experts noted. In his speech on Tuesday, Premier Li offered a comprehensive assessment of the Chinese economy, and notably offered a forecast of a 5.2 percent growth rate for China’s economy in 2023, noting that the rate is higher than the official growth target of around 5 percent. He said that the Chinese economy is making steady progress, and will continue to provide a strong impetus for the world economy.

China is scheduled to release economic data, including GDP growth, for 2023 on Wednesday. “A 5.2 percent growth rate would be very impressive, considering all the challenges in 2023, including an uncertain global economy and so-called economic decoupling. It not only shows that China has maintained steady growth, but more importantly, it highlights the rise of China’s endogenous driving force,” Bai said, adding that it would have a great positive spillover effect on other economies. 

Steven Alan Barnett, senior IMF resident representative in China, said in a recent interview with the Global Times that China would contribute one-third of global growth in 2023, and it would have positive spillovers for the rest of the world. A 1 percentage point increase in growth in China would, on average, increase the level of output in other economies by 0.3 percent over the medium term, Barnett said. 

Apart from its contribution to global growth, China’s vast market offers great opportunities for global businesses. In his speech at the WEF, Li said that no matter how the world situation changes, China will always adhere to the fundamental national policy of opening, and will only open its door wider and wider to the outside world.

Rani Jarkas on Chinese Premier’s Pledges: Encouraging Global Businesses

Rani Jarkas, chairman of Swiss financial firm Cedrus Group, said there is a lot of enthusiasm in Davos about China’s economic prospects. “As a Swiss company that is heavily invested in China, we have two meetings with very important asset managers, and they are all asking me about the slowdown in China. And I said that the economy is being balanced for better and stronger economic growth,” Jarkas, who was in Davos, told the Global Times on Tuesday. 

“2024 will be a very good year for the Chinese economy. The outlook is very positive, I think we will see around 5 percent economic growth for 2024 in China, because many of the great policies that the government implemented in 2023, will start paying off in 2024,” Rani Jarkas said.  

Source: https://www.globaltimes.cn/page/202401/1305516.shtml

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Rani Jarkas at DAVOS 2024 Said: People Outside China Need to Be Provided with Proper Knowledge or Expertise in Chinese Markets

It is crucial to let more people outside China know about the Chinese economy and investments in China, and let them have the proper knowledge or expertise in the Chinese markets, Rani Jarkas, chairman of the Cedrus Group, said after attending the Davos 2024. The Cedrus Group is a Swiss-owned global private investment bank that has been in China for more than 15 years. It was founded in 2001 specializing in offering private wealth management, investment management, and financial advisory services with a focus on life sciences, technology, natural resources, and nanotechnology industries.

This year’s annual meeting of the World Economic Forum (WEF) took place in Davos, Switzerland, from January 15 to 19. Under the theme of “Rebuilding Trust,” the event attracted nearly 3,000 leaders from 120 countries. Regarding the topics that impressed him the most during the annual event, Rani Jarkas said that one was about China and its growth. “I found that many people were not informed about the Chinese economy, talking about China and its economy from the outside in a vacuum without any proper knowledge or expertise in the Chinese markets.”

Rani Jarkas, chairman of the Cedrus Group Photo: Courtesy of the Cedrus Group

Enhancing Expertise & Global Investments: Rani Jarkas‘ Strategy for Success

“Being the bridge between China and Switzerland, and Europe in general, Cedrus helps Chinese companies to expand in the European markets and for European companies to operate in China successfully,” the chairman added. Another important topic was about artificial intelligence (AI): Whether AI is going to be a leading technology for the future or harmful to human beings. I felt that the atmosphere was split between negative and positive sentiments on AI and its prospects, Rani Jarkas said.

Regarding which areas would be the highlights of global economic development, he pointed out that Quantum AI, computing, semiconductors, and clean technology are going to be very important in the future. “I think those terms will be with us for many years. And I believe that China will be a leader in many of these technologies going forward.” “We always invest in high-growth companies, like I mentioned before, in terms of life sciences and innovative technology. That’s been our focus for over 3 years, and I will continue to enhance this expertise and look at great companies to invest in globally.” 

Source: https://www.globaltimes.cn/page/202401/1306072.shtml

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Rani Jarkas: Swiss and European Companies Confident in Investing in China

Three funds each with 1 billion yuan ($140 million) have been set up to facilitate European investment to China on the sidelines of the World Economic Forum, said Victor Gao, vice president of the Center for China and Globalization at an investment event held in downtown Davos. Investment bankers and family office managers said China is a large market and a reliable partner.

Against the backdrop of the World Economic Forum, a noteworthy development has emerged with the establishment of three funds, each endowed with a substantial 1 billion yuan (approximately $140 million). Victor Gao, the Vice President of the Center for China and Globalization, shared this significant news during an investment event hosted in downtown Davos. This strategic move is poised to catalyze fostering European investment into the dynamic landscape of China, echoing the global sentiment towards enhancing economic cooperation and collaboration.

Rani Jarkas Examines the Pillars of China’s Stability in Economic Turbulence

The allocation of sizable funds underscores a concerted effort to facilitate and streamline the flow of European investments into China, marking a significant step in bolstering economic ties between the two regions. The announcement reflects the recognition of China as a vast market with tremendous potential, making it an attractive destination for international investors seeking growth and diversification opportunities, said Rani Jarkas.

The sentiments echoed by investment bankers and family office managers at the event emphasized the prevailing confidence in China’s economic trajectory. The acknowledgment of China as a large market and a reliable partner underscores the trust that the global investment community places in the country’s resilience and stability. As these funds come into play, they are expected to not only provide financial support but also serve as a conduit for knowledge exchange, technological collaboration, and mutually beneficial partnerships, said Rani Jarkas.

In the broader context of global economic dynamics, the establishment of these funds is poised to enhance the connectivity between European investors and the multifaceted opportunities present in China. This move contributes to the ongoing narrative of fostering cross-border collaborations and strengthening the ties that bind different economic powerhouses on the world stage.

Facilitating European Investment in China, Unlock Growth Opportunities with Rani Jarkas

On the sidelines of the World Economic Forum, numerous business events are being held to facilitate investment and bridge the information gap.  Over 30 investment bankers and family office managers attended an investment event in downtown Davos. Private investment bank Cedrus Group, which manages 8 billion US dollars of assets in life science, natural resources, and nanotech, has announced the launch of their domestic Chinese private equity fund. With over 1 billion RMB, the fund will invest in life science and agriculture in China. Rani Jarkas will continue to attract innovative Swiss and European companies to China, by investing in them and advising them on market entry, business set-up, and development.

Furthermore, the launch of Rani Jarkas’ domestic Chinese private equity fund signals a deeper commitment to nurturing homegrown talent and fostering economic resilience within China. The fund’s focus on life science and agriculture aligns with the country’s strategic priorities, tapping into sectors that hold immense potential for innovation and sustainable development.

Cedrus Group’s venture into the Chinese private equity landscape is backed by a wealth of experience in managing assets across diverse industries. Their track record in life science, natural resources, and nanotech positions them as a reliable partner for companies seeking not only financial support but also strategic insight and industry expertise.

Ways Rani Jarkas Contributes to Globalization of Businesses

In the ever-evolving global economic landscape, Cedrus Group’s approach reflects a nuanced understanding of the interconnectedness between regions. By facilitating investment and providing comprehensive advisory services, the private investment bank is actively contributing to the globalization of businesses. This approach extends beyond mere financial transactions, encompassing a holistic strategy that involves navigating regulatory landscapes, understanding cultural nuances, and establishing sustainable partnerships.

As Rani Jarkas continues to strengthen its foothold in the Chinese market, the ripple effects are expected to be felt not only in the realms of finance but also in the broader realms of technological advancement, scientific innovation, and agricultural sustainability. The bank’s commitment to advising Swiss and European companies on market entry further underscores their role as a bridge between different economic ecosystems, fostering a climate of collaboration and mutual growth.

Source: https://news.cgtn.com/news/2024-01-20/Facilitating-European-investment-in-China-unlock-growth-opportunities-1qwoS0O6NIA/p.html

Navigating Tomorrow: the Future Landscape of Belt & Road Initiative (Rani Jarkas)

Navigating Tomorrow: the Future Landscape of Belt & Road Initiative

The Belt and Road Initiative, led by the People’s Republic of China, is a strategic endeavour aimed at linking Asia, Africa, and Europe through both land and maritime networks. The primary objectives include enhancing regional integration, fostering increased trade, and catalysing economic growth. Strives to foster elevated development standards through enhanced openness, intending to extend China’s developmental prospects to the global community.

Rani Jarkas, a chairman of a distinguished financial services firm. With more than 20 years of experience in the finance industry. Specialising in Private Wealth Management, Investment Management, and Financial Advisory Services, Rani Jarkas serves a global clientele, including high-net-worth individuals, entrepreneurs, family offices, and corporations. His dedication extends beyond financial expertise, contributing to the growth and network expansion of the company.

With his extensive experience travelling to BRI countries, he has witnessed the transformative impact of Chinese investments in these regions that are part of the BRI. These investments have facilitated communication, business growth, enhanced mobility, and ultimately improved living standards. He believes that the BRI will emerge as a primary driver of global economic growth, fostering prosperity and growth in communities worldwide, following a mutually beneficial approach.

Derived from the historical Silk Road, the Belt and Road Initiative (BRI) project relies on China’s historic ties with its neighbours along the Silk Road to forge new connections, revitalising the distinctive Chinese essence. Initiated in 2013 under the leadership of President Xi Jinping, this extensive array of development and investment initiatives was initially designed to connect East Asia and Europe through physical infrastructure. Over the past decade, the project has expanded its reach to encompass Africa, Oceania, and Latin America, thereby substantially amplifying China’s economic and political influence.

As of now, 147 nations, constituting two-thirds of the global population and contributing to 40 per cent of the world’s GDP, have either signed on to projects or expressed interest in doing so. The initiative aligns with the UN 2030 Agenda for Sustainable Development and harmonises with the development strategies of diverse nations. It has resulted in more than 3,000 cooperative projects, encompassing national landmarks, livelihood initiatives, and significant milestones of collaboration. 

According to estimates from the World Bank, by 2030, investments related to the Belt and Road Initiative could elevate 7.6 million people out of extreme poverty and 32 million out of moderate poverty. Members of the Belt and Road Initiative (BRI) encompass not only U.S. allies and partners like Greece, Italy, Saudi Arabia, and the United Arab Emirates but also countries aligned with China geopolitically, such as Cambodia and Laos.

From the Chinese standpoint, the strategy involves cultivating markets for its products through the hardware connectivity provided by the Belt and Road Initiative (BRI). Simultaneously, it entails investing in technology transfer to ascend the value-added chain swiftly. This approach aligns with the imperative to address immediate industrial excess capacity domestically. Moreover, in the long term, it aims to establish a global platform facilitating trade and investment with countries participating in the Initiative, where China assumes a central role.

Rani Jarkas, this marks the inaugural participation in the BRI annual event, coinciding with its 10th anniversary. Highlighting that China’s efforts have led to a rapid increase in global infrastructure investments, enhancing the connectivity of infrastructure projects, networks, and transportation and fostering closer ties among people in various nations. He firmly views the Belt and Road Initiative as a significant initiative and a global asset that contributes to advancing the future development of the world.

Rani Jarkas envisions and anticipates highly successful, productive, and collaborative partnerships among numerous governments and economies worldwide. This collaboration aims to advance technologies and infrastructure development in the future. Rani Jarkas believes fostering better cooperation among countries can be achieved through dialogue and face-to-face meetings. The Asia-Pacific region, in particular, is poised for significant growth, and many nations are seeking substantial cooperation, led by China.

General multilateral discussions and specific bilateral talks are expected to enhance collaboration, addressing economic concerns and promoting growth, infrastructure projects, and increased trade. This becomes especially crucial as the global economy experiences a slowdown with rising inflation. Rani Jarkas acknowledges the accomplishments of the Belt and Road Initiative (BRI) in promoting regional connectivity, economic development, and sustainability within the Asia-Pacific region.

The Belt and Road Initiative (BRI), led by China, aims to connect Asia, Africa, and Europe for trade, economic growth, and regional integration. Rani Jarkas, Chairman of Cedrus Group, supports BRI’s transformative impact and envisions successful global partnerships.

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Recent News: 

China Daily – Belt and Road Initiative win-win for everyone

China Daily – BRI brings more opportunities to benefit all

Source: https://www.businesstimes.com.hk/articles/152742/rani-jarkas-navigatingtomorrow-bri/