Despite the trade war, General Atlantic, a $35 billion private equity firm, is committed to investing in China, forecasting, long-term, 5% to 6% growth there. According to General Atlantic CEO Bill Ford, when it comes to innovation, China increasingly gives the U.S. a run for its money.
fell to $9.8 billion in the first half of 2019, compared with $15.1 billion the previous year, according to the Emerging Markets Private Equity Association, based on disclosed investments.
For instance, Ford pointed out, China filed more than 30,000 public patents for AI in 2018 . China is racing ahead with 5G networks, with three telecom operators piloting 5G in more than a dozen cities, with a total population of 167 million. China also leads the world in 5G patents, at 3,400 versus South Korea and the U.S. .
In September 2018, General Atlantic invested $150 million in Hong-Kong-based Asia Medical. Earlier that year, in April, it led a $300 million series C round in Chinese group discount platform Meituan.com.doesn't trump the long-term trends that make both the United States and China good places to invest, if you're doing so with at least a five- to seven-year horizon, Ford said.But the trade war does increase geopolitical risk, and he worries about that.
"We're always paranoid about an economic downturn," Ford said. "We're 10 years into an economic expansion. You have to believe there's a downturn around the corner."
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