"Encouraging economic indicators show that the Chinese economy is expected to return to 9% growth in 2010. Our main message is that is a great opportunity for Israeli exports to China," said Bank Hapoalim chairman Yair Seroussi at a conference on partnerships and investment in China.
Seroussi added that the global crisis had accelerated the change in the global balance of economic power. "Economists estimate that, in ten years, more than 800 million people will join the middle class in the BRIC countries (Brazil, Russia, India, and China). This is more than the combined populations of the US, Western Europe, and Japan.
"It appears that we all understand the Orient, especially China, is undergoing a process of strengthening that creates challenges and opportunities for leading companies. These macroeconomic changes require all of us in Israel, especially Israeli export industries, to review their paradigms about the natural target markets for our activity."
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2009
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