• Geopolitical tensions between China and other countries can cause pain for businesses, but the Asian giant’s role in the world has not diminished, said Douglas Flint, chairman of Standard Life Aberdeen during the virtual Singapore Summit.
• “Seven months ago, every single company in the world virtually saw its growth opportunities in Asia, led by China. I don’t think that’s changed,” he said.
• Separately, Flint also said many economies have become dependent on government support as a result of the coronavirus crisis, and it will be difficult to wean them off aid.

SINGAPORE — The importance of China’s role in the world economy has not diminished despite rising geopolitical tensions, said Douglas Flint, chairman of Standard Life Aberdeen.

“I think China is hugely important to the global economy and to global trade,” said Flint, who spoke to CNBC’s Nancy Hungerford during this year’s virtual Singapore Summit.

“Seven months ago, every single company in the world virtually saw its growth opportunities in Asia, led by China. I don’t think that’s changed,” he said on Wednesday. A very strong middle class and the desire to consume in a different way will continue to drive the economy, he said.

more read – so Comment’s