Prep Sem Day 4: China Finance, Geopolitics and the Future
The day started with the presentation of Dr. Heinrich Siegmann of the organisation SwissBanking.
He presented us facts and figures about subjects such as
- How the internationalization of the Chinese currency RMB has been developing in the past few years
- The economic issues China is facing right now
- China & Switzerland: their partnership in banking
- Outlook and challenges for the future
Already, China contributes around one third of total world economic growth. By 2012, more than 10’000 financial institutions world-wide were doing business in RMB, it has certainly reached the global map. Globalization would not have been possible without competitive and growing banks in China. By now, China’s 5 largest banks have become global players.