Gautam Adani: “China risks being isolated”

In a speech at the Forbes Global CEOs conference in Singapore asserted that China was increasingly becoming isolated due to technology curbs and shifting supply chains. Adani also mentioned China’s growing housing and credit risks similar to that of Japan in the 90s.

At the conference, Adani said China’s “increasing nationalism, supply chain risk mitigation and technology restrictions” would likely affect its connectivity with other economies.

China’s Belt and Road Initiative, which was supposed to be a demonstration of its global ambitions, has also faced resistance, adding to Beijing’s challenges, he said. “I anticipate that China – that was seen as the foremost champion of globalisation – will feel increasingly isolated.”

 Despite his blunt assessments of China’s weak economy, he said that the world’s economies would eventually adapt and recover.

Adani, who is thought to be worth US$142 billion, gave a keynote speech lasting 30 minutes during which he also presented an upbeat view of India in the face of global issues like the effects of the Ukraine War, climate change, and skyrocketing inflation.

These, he said, resulted in a “massive realignment” of ecosystems. “What I see ahead are the new principles of global engagement based on greater self-reliance, lowered supply chain risks, and stronger nationalism.”