By: Lincoln Humphries, CGTN anchor
For several days of intense exhibitioning I’ve been sifting through the stunning array of pavilions here at CIFTIS, and what struck me initially was the sheer scale of this event. The perhaps unrivalled, variety: from Fortune 500 companies, to dozens of countries from all corners of the globe, every region of China represented, it’s testament to China’s already established and still growing openness and cooperation.
Secondly its the reminder or indeed the revelation of how significant services trade in particular has become. International trade talks and media coverage can often be dominated by physical, tangible products; its perhaps easier to imagine a loaded cargo ship of iron ore, a tanker of LNG or crates of primary produce, but it’s not that the world economy is changing, it’s been changing, swiftly, for some time. According to the World Trade Organisation, since 2005 global commercial services exports have tripled; with exports of digitally delivered services quadrupling.
This world of new, specialised technologies, is a reality where virtual reality is more common place, in education for example.
Intelligent consumers will be able to use Artificial Intelligence to streamline professional services, legal, architectural, accounting, like never before or simply “try on” new clothes online.
The “low altitude economy” is already seeing high altitude growth thanks to emerging robotic, drone technology .
And biotechnology breakthroughs are preserving our biospheres with low emissions advancements.
It’s a stunning array of opportunities, and challenges to ensure these advances in services serve us all.
