The 14th summit of the G20 leaders will be held in Osaka, Japan from June 28th to 29th. It’s been three years since the G20 Hangzhou Summit. From Hangzhou to Hamburg, to Buenos Aires, to Osaka, the G20 returned to Asia this year. The background of this summit is extraordinary. The current Sino-US economic and trade frictions are constantly escalating, attracting worldwide attention and becoming the global* public event today. How will the leaders of China and the United States meet, what progress will this meeting bring to the Sino-US economic and trade negotiations, and what signals will be released to the LED industry?

Trade conflicts are expected to press the "pause button"

At present, the deep contradiction in global development is prominent, protectionism and unilateralism are on the rise, the multilateral trading system is under attack, and the overall development of the world economy faces many risks and uncertainties. The world economy is once again facing a historic choice. The common need to maintain a stable world economy has spawned the G20. In the face of the development of the times, the G20 has the responsibility to play a leading role, to point the way for the world economy and to develop a path. Responsible attitude to firmly grasp the correct direction of the world economy is precisely the profound revelation drawn from the two 10th anniversary and the historical responsibility of the G20, which is composed of important global economies.

Obviously, Sino-US trade conflict is one of the concrete manifestations of deep-seated contradictions in the development of the world economy. For a long time, Sino-US trade friction has affected the degree of influence on some export-oriented LED enterprises and enterprises relying on American suppliers. The specific performance is that the enterprises with strong competitiveness and small substitutability have little impact. For enterprises with weak product competitiveness and certain substitutability, the main pressure is the increase in costs and the reduction of orders. Individual enterprises are facing Risks such as the suspension of production and the loss of workers. The first meeting of the US dollar during the G20 Osaka Summit will help the two sides resolve their differences and resolve outstanding problems. The industry situation will further slow down and some enterprises will also ease their pressure.

The Belt and Road In-depth Development

The summit will visit two Latin American countries in Argentina and Panama, which will further promote cooperation between China and Latin American countries and promote the further development of the "One Belt, One Road" cooperation between China and Latin America. Argentina is a big country in Latin America. President Makri has always adopted a positive attitude toward China-Arab relations. He has also expressed his willingness to participate in the construction of the “Belt and Road” between China and Latin America. China and Albania are expected to reach many cooperation agreements in related fields. Panama is a Latin American country that has signed a "One Belt, One Road" cooperation agreement with China. The cooperation between China and Pakistan is far-sighted. The "Belt and Road" is a major strategic concept put forward by the Party Central Committee to strengthen the deep integration of China's economy and the world economy under the new situation. With this advantage platform, Chinese companies face unprecedented opportunities, including of course China's LED display companies.

On the one hand, with the rapid expansion of China's LED display capacity, China's domestic market can not fully digest this expanding capacity, China's LED display companies to enter the overseas market is an inevitable choice. On the other hand, China's LED display industry is currently in the forefront of the world in terms of products, technology and innovation. In the process of going global, our confidence is being built step by step.

At present, from the overall development of China's LED display industry, the overcapacity situation can not be alleviated at one time, which will continue to prompt LED display companies to speed up going out, explore emerging markets, and find new opportunities. This is one aspect. In addition, in this process, we must strictly control the quality of products, continue to maintain the leading position in product technology and innovation, and be more humanized in service, so that we can continuously output products while By exporting our brand, we can build an international brand that belongs to China's LED display people step by step.

Returning to Asia's G20 summit, China has demonstrated its determination and attitude towards peaceful development. It has inspired many LED display industries. Although China-US friction is expected to slow down through the G20, it has given many domestic companies a chance to breathe, but LED display. Enterprises should be deeply aware of the extreme importance of mastering core technologies and core supply chains, so that they will not be subject to human beings in development; in addition, as the saying goes, "Eggs cannot be placed in the same basket," as the world's second largest economy, China is not afraid of the wind and rain, unswervingly deepening reforms, expanding its openness, and increasingly becoming the source of confidence in the world economy. LED display companies can continue to expand more and wider markets with the national “One Belt, One Road” platform.

Source: HC LED screen