Starbucks, office rents and CEOs form alternative outlook on China
Updated: 2016-02-02 14:31
Joe Kaeser, CEO of German industrial conglomerate Siemens, briefs the media during a news conference prior to the annual shareholder meeting in Munich, Germany, Jan 26, 2016.[Photo/IC]
Starbucks and Shell are definitely not alone in betting on China.
For another "index," global CEOs don't think the Chinese economy is as bad as some prophets of doom would have some believe.
"The real economy in China is a lot better than people are talking about right now," Joe Kaeser, CEO of German industrial giant Siemens AG, told media in a recent interview, while pointing to "some weakness in terms of real estate and the finance sector."
Siemens had recovered "a lot" of market share in China thanks to new business opportunities in fields such as energy management, he said. "So we are actually pretty happy with what we are seeing in China relative to what their structural challenges are," Kaeser said.