Egyptian expert on China’s economy

China’s economy has entered a new stage by its booming development of high technology manufacturing, which is benefited from China’s advanced ideology and policy.

Mahmoud Allam, a former Egyptian ambassador to China, made the remarks in a recent interview with CNC.

SOUNDBITE (ARABIC): MAHMOUD ALLAM, Former Egyptian ambassador to China
“When China started reform and opening up policy, in the beginning , it works to attract foreign investment, so it started manufacturing with simple and small industries. People criticized Chinese industries as it’s very cheap with low quality, but for me, I think it’s part of economic development and growth. However, the Chinese economy has entered another stage. Now it is the stage of improvement and innovation. The improvement is to make the Chinese products to have a good reputation in the world market. Sure, it can play a role in pushing China’s economy , because the Chinese economy nowadays is also depending on innovation. ”

When asked about China’s advantages in its economic development, he says China enjoys advanced ideology and huge market.

SOUNDBITE (ARABIC): MAHMOUD ALLAM, Former Egyptian ambassador to China
“China now adopts the five major concepts and regulatory solutions to the economy, which depends on innovation, coordination, green development, the openness and sharing. In this point, I really admire the Chinese ideology, because it has methodology , and has different dimensions. ”

SOUNDBITE (ARABIC): MAHMOUD ALLAM, Former Egyptian ambassador to China
China has the biggest market in the world, and that’s the reason why the foreign investments are attracted by China. Any investor who is searching for big market can’t ignore the Chinese market. I always say that the Chinese market is huge, so if I am a global investor, I will advise Chinese people to buy my products , because if they are used to my products , I will have a position in the biggest market in the world.”

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