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The year 2022 has heralded a turning point in Europe. Russia's war against Ukraine and the humanitarian fates it has caused are very upsetting for all of us. We have colleagues there, and many also have families and friends who have been directly affected. Our thoughts are with the people in the region.
Since the beginning of the war, the West has imposed significant sanctions on Russia. Russia's war of aggression poses a dilemma for Beijing. Official pronouncements and state media have avoided the term war as well as criticism of Russia's President Vladimir Putin. Video footage and images shown in Chinese state media are strictly curated. At the recent People's Congress, the Ukraine "conflict" was not addressed at all.
As a result of the possible frontline situation and the ongoing Corona pandemic, it may be necessary to further develop the risk management system of companies in terms of existing dependencies or required contingency plans.
The hope remains that a return to cooperation and negotiations will take place, leading to a de-escalation in Ukraine and an easing of the geopolitical situation. Only together we can work towards a better world and, above all, a better environment.
We wish you interesting insights while reading this newsletter. Stay healthy!
KPMG China Newsletter – April 2022
Current topics of the issue:
- Deutsche Unternehmen in China: Realismus folgt dem Enthusiasmus
- Ten macroeconomic trends in 2022
- The CEO view: Supply chain resiliency helps achieve a twin transformation
- China Economic Monitor Q1 2022
- Major trends and emerging risks in Greater China in 2022