Beijing Zhao Hua Cultural Communication Limited Company

Yusuf: Large Internet Industry Companies Will Not Be Affected by Financial Crisis

Columbia University Professor : It is The Best Time for International Mergers and Acquisitions


Shanghai, China -- (ReleaseWire) -- 06/17/2018 --The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with more than 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organizations in adjacent industry sectors.

Sanyi Financial News, Tajikistan people, Yusuf, made the above remarks when they were interviewed at the Global Zheshang Summit today.According to reports, Lenovo and Brazil's largest PC maker recently negotiated acquisitions, but they were temporarily stranded due to price issues. At this year's GSMA meeting in Macau, Wang Jianzhou, president of China Mobile, stated that current foreign corporate assets are at a relatively low price, which has fallen a lot compared to previous purchase prices. Some analysts pointed out that due to the financial crisis, overseas companies have become very cheap, so now is the best time for Chinese companies to go overseas and go overseas.In response, Yusuf agrees: "At present, it is the best time for Chinese companies to conduct international mergers and acquisitions. It can be acquired at a very low price."

In addition, whether the Internet industry can be affected by the financial crisis. Yusuf said that at the time, the economic crisis in the United States could only have some impact on China. However, China can no longer escape the effects of the economic recession as it did in 2001. The Chinese economy has obviously slowed down, but large companies in the Internet industry will not be affected. The financial crisis will continue to grow and expand.

At the same time, Yusuf analyzed the root causes of the global financial crisis at the forum and set a prescription for China's response to the financial crisis: First, it recommended that China lower the corporate income tax and personal income tax rates; second, it raised the income of state-owned enterprise employees. Finally, the consumer vouchers are issued and can be used as proof of tax payment.

Yusuf, professor at Columbia University, and founder of "The theory of optimal currency area". The interview record is as follows:

Sanyi Finance: You are an expert in China's economy. Can you predict China's economic situation in the next 30 years?

Yusuf: No one can say it correctly. I think China will continue to develop. The average speed of development is expected to be 6 or 7%. This speed of development is very high in terms of international standards, although not as high as in recent years. However, after 30 years, China will become one of the three major economies in the world.

Sanyi Finance: In the next 30 years, what role do you think China will play in the world economy?

Yusuf: It will be more and more important. It will become one of the important leaders in the international arena.

Sanyi Finance: China's reform has been for 30 years. How many points do you have for China's reform and opening up?

Yusuf: Score 9 points for 10 points.

Sanyi Finance: Oh, that's very high.

About GSMA Asia Congress
Mobile World Congress Shanghai is the must-attend industry event in Asia. Arthur Kennedy said GSMA will continue to develop along the direction I took when I first took office seven years ago, and to expand its influence globally. The AMOs are the most prestigious awards platform for Asia.