Jan Friederich begins his discussion by illustrating an important duality in China today. On the one hand, we are in a "sustaining China", where what happens in the market will be wholly impacting on MNCs as they continue to expand. We then, however, also have the issue of how to keep standards high in fast growth and a sense of struggling to 'keep up'. Friederich then allows for all of these factors to be examined in the context of the macroeconomic environment and current situation in China today.

Find out why Mr Friederich believes that 2008 is the "year of economists". Why is there currently an apparent trend in negative outlooks for the global economy? What is the driving force for this common outlook today? Friederich sheds light on the China market in context with the current situation in the US as a driving force behind a much bleaker forecast of the global economy.

More importantly, however, Friederich outlines the main reasons why it's 'not so bad' and which risks really matter. Is there too much unnecessary concern placed upon the financial turbulence at hand? Are we witnessing a recession? If so, how deep is it? Friederich also comments on the dangers of a 'negative spiral' which could, in turn, affect confidence in economists at a time when the standard tools of linear regression analysis are not applicable.

From this session, we are provided with an insider's point of view on whether Asia can take the pressure that accompanies increased exposure internationally and the kinds of decisions China will soon need to face.