China's continued ascension as an economic power might face serious obstacles, warning that the country could deal with increasing isolation in the future that might lure new investment elsewhere.
The chairman of the Adani Group spoke at a news conference in India. The photo was taken by theMint
The world's third-richest person said during his keynote address Tuesday at the 20th Forbes Global CEO Conference in Singapore that global trends toward "increasing nationalism, supply chain risk mitigated and technology restrictions" could affect China's growth.
The billionaire pointed to China's Belt and Road initiative as an example of the country's growing isolation.
Increasing housing and credit risks could cause China's economy to resemble Japan's lost decade of the 1990s.
According to Adani, China's economic pain could be a long-term issue.
He said in his address that the bounce-back looks harder this time than it did in the past.
India's economy will grow to the third-largest in the world by 2030 and will be "poverty-free" before the year 2050, according to Adani.
The third-richest person in the world is Adani, who is estimated to be worth 140.8 billion dollars. The richest person in the world is Jeff Bezos, who is $2 billion richer.
After a surge in the stock prices of several companies he owns, Adani became the second richest person in the world. He became the wealthiest person in Asia in February under the same circumstances. The majority of Adani's wealth comes from his holdings in port and infrastructure businesses, but he has other holdings as well. The second-busiest airport in India is owned by Adani.
What is the name of the person? The Indian billionaire became the world's second wealthiest person.
India's economy will grow to $30 trillion, according to a keynote address by the world's second richest person.
How China is losing support
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