The latest forecast from UBS China economist Wang Tao envisages a 1.1 percentage point drag on GDP growth from net exports in 2012.

瑞银(ubs)中国经济学家汪涛的最新预测是，净出口将给2012年GDP增长速度带来1.1个百分点的拖累。

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But both UBS and Goldman are undoubtedly delighted to be firmly ensconced in China as their rivals watch in envy.

但是，毫无疑问ubs和高盛都很乐意在中国进行扎根，而这让其对手无比嫉妒。

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UBS calculates that 45% of Japan's exports to China by value are processed and shipped elsewhere.

瑞士银行计算，以价值计，日本对华出口产品有45%经过加工后发往其他地区。

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Wang Tao,a chief economist with UBS in China, "The timing I think at the moment seems pretty good in a sense that China's economy is pretty strong and global recovery is pretty clear, despite all the uncertainties related to the European debt crisis."

VOA: standard.2010.06.21

Wang Tao, chief economist with UBS AG in China, told China Daily on Tuesday that extensions of local-government debt already started last year amid concerns that municipalities were hurting from a sharp decline in housing development and fixed asset investments from Beijing.

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UBS, argues that China is one of the most rapidly liberalising economies in the world, and is opening markets far more than India or Brazil.

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Jonathan Anderson, a China specialist at UBS, calculates that under the current pension system the government could face unfunded liabilities of up to 6% of GDP annually a few decades hence.

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