The Chinese Economy as Seen by BMG President Ricardo Guimaraes

February 3, 2016 at 9:30 am
filed under BMG, Brazil, Business

Economist conduct lot of market research whose analysis work in aid of corporate organizations. In fact, informed investment decisions can only be made in the presence of market research data and analysis.
That being said, corporate executives like Banco BMG’s Ricardo Guimaraes rely on market figures to forecast economic trends while placing investments of their own. Furthermore, in countries like Brazil, economists cast observant eyes on economies of other states especially the one they trade.
In an article published on portal.comunique-se.com.br, Ricardo Guimaraes forecasts the growth of the Chinese economy in 2016. He explains that experts expect the GDP of the developed country to grow at a rate of 6.4%. This figure was officially released by a Chinese information center upon research by the National Development and Reform Commission.
The Chinese economy has done well to overcome the challenge of the global financial crisis of 2008. However, it recorded its lowest quarterly GDP growth of just 6.9% at the close of 2015. However, Chinese authorities were not overly concerned with the stunted growth of the country could still achieve its five-year plan with a growth rate of 6.5%. The President, Xi Jinping further revealed that his country intends to lift over 70 million citizens from poverty.
In other parts of the world, economists feel the Chinese are being too ambitious considering current global financial constraints. Guimaraes comments on this issue citing plans by the Chinese government to restructure the economy towards the more sustainable market-oriented segment. The Chinese Republic also plans to increase domestic consumption to curb the foreign trade. In fact, Guimaraes pointed out that the only worries in China come 2016 are maintaining income and employment as well as controlling inflation.
Closer home, Banco BMG is also on the restructuring curve. The company has reached a certain level of growth but remains keen to achieve more. Ricardo Guimaraes reckons the need to enlarge the payroll loan portfolio. Guimaraes and his team have negotiated a great deal with local banking firm Itau Unibanco. An alternative venture, Itau BMG Payroll has since been born and operates with shared capital from the two banks. The new business will help BMG to distribute and supply payroll loans to employees of private firms.
However, a new executive steps in place of Ricardo Guimaraes to oversee these changes. Mr. Guimaraes brings a 17-year stint as President to a close for further responsibilities on the Board. Ricardo is to be replaced by an equally qualified figure in Antonio Hermann. Flavio Guimaraes also vacates his seat on the Board for Alcides Lopes Tapias.  BMG hopes to continue enjoying the valuable contribution of Ricardo Guimaraes in his new position.

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