Zhu Min predicts low global economic growth, describing it as "fragile, exciting, and resilient" for 2026 | Asian Financial Forum

Zhu Min, a senior expert committee member of the China Center for International Economic Exchanges, described 2026 with the three words "fragile, exciting, and resilient." He predicts that the global economy will be in a low-growth range for the next few years, with geopolitical uncertainty and the artificial intelligence revolution becoming key variables affecting the landscape. He further explained that, based on purchasing power parity (PPP), the global GDP growth rate is expected to be 3.3% in 2026, significantly lower than the previous average level of 3.8%. Zhu Min: Optimistic about the Recovery of Consumption in Mainland China Zhu Min admitted that the collapse of real estate sales in China has increased local financial pressure, but he remains optimistic about the recovery of consumption. He expects the consumer market to gradually warm up over the next two years, coupled with an increase in the supply of new domestic products and the expansion of high-end product imports as substitutes. He pointed out that China is gradually shedding its "cheap" label in the manufacturing sector, upgrading to "high quality, high added value," and promoting the deep integration of manufacturing and digital technology. Goldman Sachs' She Nan De: AI Capital Investment as a Growth Engine She Nan De, President of Goldman Sachs Asia Pacific (excluding Japan), pointed out that the global economy is gradually moving towards a soft landing, showing a constructive development trend. He particularly emphasized that the massive capital investment in the field of artificial intelligence will become an important engine for economic growth, with global funding for artificial intelligence expected to exceed $500 billion this year. Abbot's Fan Zhi Lian: AI Helps Improve National Health Lifespan However, the development of AI is closely linked to energy. Fan Zhi Lian, Chairman of Abbot Group, pointed out that the electricity required for future data centers will be equivalent to the total consumption of France and Germany combined, and the related infrastructure construction will attract huge investments. He also indicated that future investments in the defense sector may exceed those in health and energy transition, while breakthroughs in biotechnology during the pandemic will help address the challenges of an aging population. AI is expected to play a key role in enhancing the national health lifespan and optimizing the healthcare system. Prada Chairman: "The Dollar is Dead" Statement is Slightly Exaggerated In terms of global currency competition, Paolo Zannoni, Executive Vice Chairman and Chairman of the Board of Prada (1913), stated that the credibility of the dollar is facing downward pressure, the euro is actively competing for an international currency role, and the renminbi is promoting internationalization by enhancing liquidity and expanding bond issuance. However, the statement that "the dollar is dead" is still somewhat exaggerated. Although factors such as the weaponization of the dollar are prompting central banks around the world to accelerate the diversification of foreign exchange reserves, it will still maintain its status as a reserve currency for a considerable period. He pointed out that while tokenization may help enhance system resilience, there are risks such as insufficient transparency and illegal capital flows, which urgently need to strengthen risk prevention and control. Related articles: Chen Maobo states that the international situation is diverging, China's stability is predictable, and Hong Kong is becoming increasingly important | Asian Financial Forum