South China Morning Post published this video item, entitled “Europe’s largest fund house Amundi upbeat on Asia economic, market outlook after China reopening” – below is their description.
Valerie Baudson, CEO of Paris-headquartered Amundi, said China’s reopening is very good news for the economy in the region and worldwide. China’s reopening will spark economic growth to reach 4.5 per cent in 2023, she said. The target will be far higher than the US and Europe, which may experience a short recession and high inflation due to the energy crisis, she said. Amundi is the largest asset management company in Europe, while it has been operating in Hong Kong for more than four decades.
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About This Source - South China Morning Post
The South China Morning Post (SCMP), with its Sunday edition, the Sunday Morning Post, is a Hong Kong-based English-language newspaper founded in 1903. It is Hong Kong’s newspaper of record, owned by Alibaba Group.
China is the third largest country in the world by area and the largest country in the world by population. Properly known as the People’s Republic of China, the political territory of the country includes Tibet and Hong Kong. The capital is Beijing.
Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.
Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
Paris, France‘s capital, is a major European city and a global center for art, fashion, gastronomy and culture. Its 19th-century cityscape is crisscrossed by wide boulevards and the River Seine. Major landmarks include the Eiffel Tower, the 12th-century, Gothic Notre-Dame cathedral and the Arc de Triomphe on the Champs-Élysées.