"You can't ignore it, you have to do business there, even if you decide not to do business there, you need to understand what's going on," Leenart said, adding that what happens in China "influences every industry around the world."
In terms of purchasing power parity, China currently accounts for 19% of global GDP and 48% of Asia's GDP .
China is too big to be sidelined, and investors "have to do business there," JPMorgan Asia Pacific CEO Sjoerd Leenart said Thursday, adding that the country had emerged as the second world power.
Given how extensively China is linked with the region, Leenart emphasized that there needs to be "good activity" in China in order to have a buoyant investment banking business.
"I think that [China] have a lot to sell to the world, and that product will be needed all over the world," said Leenart, adding that he sees a lot of opportunity in China.
Persons:
Leenart, CNBC's, Sjoerd Leenart, We've
Organizations:
JPMorgan Chase &, CNBC's Sri, Global China Summit, JPMorgan Asia Pacific, Investors, China's National Bureau of Statistics, Reuters, Wilson
Locations:
New York, United States, China, CNBC's Sri Jegarajah, Shanghai . China, Asia, Japan, South Korea, Taiwan, Vietnam