Peter Voser from ABB told CNBC the ongoing trade war between Beijing and Washington has not changed the way the company invests in China.
The tech company has not changed the way it's investing in China, said its chairman Peter Voser, who is also the chief executive officer at Zurich-headquartered"We see as a short-term issue because the Chinese market is big enough and has an enormous growth potential on the manufacturing side," Voser told CNBC's Nancy Hungerford at the. "I mean, they are a global manufacturing hub, but they also have their own big market, which they can serve.
The U.S. and China are locked in a trade war, and both sides have applied tariffs on billions of dollars worth of each other's goods. Their retaliatory tariff actions have roiled global markets, dented investor sentiments and trimmed global growth outlook.$150 million robotics manufacturing and research facility near ShanghaiThe facility will be the "most advanced, automated and flexible factory in the robotics industry worldwide," the company claimed in a news release.
Voser said ABB sees a "huge upside" in China for its automation and robotics business. He explained the country's aging population would soon mean there would be insufficient trained staff in many companies, which would increase the need for automation.industrial policy, which was designed to reduce its dependence on imported technology in certain priority industries, Voser added.
"China is not very highly roboticized today compared to Germany, compared to Singapore," he said. The country has "a huge way to go, hence, we see the whole situation positive in the longer term."
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