Sunday,26 May 2024

“Economic slowdown is a time to prepare for another wave of transformations”

5 min read

Interviewed By The Asian Banker Live

Emmanuel Daniel, chairman of The Asian Banker discussed his recent travels in preparation for the launch of his new book, “The Great Transition – the personalisation of finance is here”. With his varied experience in the growth and downturns of different countries, he viewed China’s economic slowdown as an opportunity to transform and strengthen its economy.

Transcript of the speech:

Emmanuel Daniel: Ladies and gentlemen, welcome to another year of Finance China. I am back in China already, but I am still in quarantine in Chongqing. So, I am near yet far away. In the past six months, I have been travelling to the United States and other countries to prepare for the launch of my new book. I also travel to learn about new developments in the finance industry. It is great to be back to China after these travels. I feel like I have come home.

When I travel, many foreigners want to know the situation of the economy in China. I have had many years of experience in economic growth and downturns in many different countries. In my view, an economic slowdown is a good time to strengthen the economy.

The title of my book is “The Great Transition – the personalisation of finance is here.” The book will be released in the English language on 30 September in the US.

Although Chinese banks have achieved great progress in digital banking, new challenges are just around, and very near. This period of economic slowdown is an excellent time to prepare for another wave of transformations.

I have read the agenda for today’s conference. I am especially interested in the opening session. Both local and foreign experts will give us their views. I am also interested in the last session. Finance is meant to be for the good of society. I hope to meet with some of you when I return to Beijing tomorrow. In the meantime, please have a good conference.

Let me leave you with an English phrase that I learnt as a young boy. It is by a poet, named, Robert Bowring. “The best is yet to be.”

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