Luncheon Presentation by Daniel Rosen, Rhodium Group & Peterson Institute for International Economics Registration at 12:15pm, Luncheon at 12:30pm, Close at 2:00pm. China's 2012 economic performance reflected not just a cyclical downturn due to real estate and infrastructure investment lulls, but a deeper, structural shift. Medium term potential remains strong, though stepped down. But reaching that potential depends on policy action now, since Beijing will not enjoy a full year honeymoon to sort out its priorities. China's burgeoning outbound direct investment is a symptom of this difficult internal adjustment, as firms need to adjust their business model, and investors are eager to diversify risk. This is not an indication of China taking over the world, but efforts by corporate China to catch up after decades of a growth model focused on domestic investment and exports. The process of rebalancing China's external investment portfolio will increase the Mainland's global direct investment assets from $400 billion today to $1-2 trillion by 2020.