Elon Musk said in an interview published on Monday by the Wall Street Journal that China is on the way to becoming a the world’s largest economy and that he could surpass the United States “two or three times”.
“We are now approaching a situation where the Chinese economy could presumably exceed two or three times that of the United States. It’s another world, ”said the billionaire.
Although Musk acknowledged that Tesla and China have a good relationship, he also stressed that he does not approve of all actions by any government, including Chinese.
” It is not my intention support everything that china does more than, say, would support anything that the United States or any other country does, “said Musk, who concludes that” we are entering an interesting new world “and” we have to remember that we are all human. “
China is by far the largest market for electric cars in terms of unit sales and, according to a report from Tesla, sales of its cars in China have brought in revenues of $ 3.11 billion in the third quarter of 2021.
This year, Beijing cracked down on the profits of tech giants and educational companies and introduced restrictions loans for real estate companies. Likewise, rising factory prices have made it difficult to maintain corporate profit margins, while the lack of significant easing measures from the country’s central bank in recent months has impaired growth economic.
As a result, Chinese offshore stocks are among the worst performers this year, while the index Nasdaq Golden Dragon China it has fallen more than 50% since its peak in February. Index MSCI China it is approaching the lowest relative to global equities since 2006.
However, BlackRock believes the peak of regulation has passed and expects pro-economic measures to begin to apply. job in the new year.
For its part, Goldman Sachs is optimistic about the investment opportunities linked to the policy of renewable energy. At the same time, the UBS Group expects an increase in company profits and valuations.
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