With growing nationalism, shifts in supply chains, and technology constraints, China will feel increasingly isolated in the global economy.

That is a new warning from Indian billionaire Gautam Adani, who ranks third in the world by wealth and number one in Asia.

During the Forbes Global CEO Conference 2022 in Singapore on September 27, Adani said that China’s Belt and Road Initiative (BRI) is facing a mounting resistance from many countries.

He added that Beijing’s global role and ambitions are being affected and challenged.

Adani, founder of India’s Adani Group, compared China’s property market collapse to what happened in Japan during the Lost Decade in the 1990s. 

The billionaire warned that the economic pain facing China could end up being a long-term problem. He said that its rebound from economic weakness will be harder.

He said: “While I expect all these economies will readjust over time – and bounce back – the friction to the bounce-back looks far harder this time.”

While Adani is pessimistic about the world’s second-biggest economy, the mining tycoon remains optimistic about India’s economic outlook.

He said that India is one of the relatively few bright spots from a political, geo-strategic and market perspective. He predicts that India will become the world’s third-largest economy by 2030.

According to the Bloomberg Billionaires Index, Adani added more than $56 billion to his personal wealth this year.

The 60-year-old billionaire now has net assets at nearly $133 billion, making him the third-richest person in the world, behind Elon Musk and Jeff Bezos. 

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