Philipp Lotter
China is poised to play an even bigger role in the global trade and economic system as its innovation-driven industrial policies strengthen domestic competitiveness and accelerate industrial self-reliance, said an executive of a global credit rating agency.
"The global supply chain is more fragmented but still interconnected, where China plays and continues to play a significant role, particularly and increasingly in some of these higher value-added and strategically important sectors," said Philipp Lotter, managing director and head of global ratings and research at Moody's Ratings, during a recent visit to Hong Kong and the Chinese mainland.
The push is expected to enhance China's capabilities in key strategic sectors, expand its domestic market and reduce vulnerability to external shocks.
Lotter said stability in Sino-US relations is an important factor for global economic and financial resilience.
