Enough Room
FedEx. Boeing. Apple. These household names and others were represented in a U.S.-China Business Council (USCBC) Board of Directors’ delegation to China in late July. In reciprocity, a Chinese delegation led by the China Council for the Promotion of International Trade (CCPIT) visited the U.S. shortly after.
This exchange of visits by high-profile business executives took place at an important juncture. The Communist Party of China (CPC) Central Committee had just concluded its third plenary session. The session adopted a roadmap for further comprehensive deepening of reform, including promoting alignment with highstandard international economic and trade rules and more than 300 other tasks to be completed in the next five years. The CPC National Congress and the Central Committee it elects are the highest leading bodies of China’s governing party.
U.S. protectionism against China has been increasing in recent years, largely resulting from a zero-sum mentality that pits China’s success against that of the U.S. During the ongoing presidential race, China is a hotly debated topic and is often scapegoated.
Despite uncertainties in U.S. politics, the business community conveyed a clear message. When meeting with Chinese Minister of Commerce Wang Wentao during the recent visit, Raj Subramaniam,
USCBC Board Chair and FedEx President, said China has sent a positive signal to the world about further deepening reforms and expanding opening up. The council and its member companies support the expansion of economic and trade cooperation between the two countries and will continue to commit to longterm development in China, he added.
According to a report recently released by the CCPIT, a national foreign trade and investment promotion agency, more than 40 percent of foreign-funded enterprises surveyed in the second quarter of this year said the attractiveness of the Chinese market has increased. Among them, U.S. enterprises are the most optimistic, with more than 40 percent viewing the market outlook for China positively.
Even as some U.S. politicians have threatened to take more steps to hamper business cooperation, such as imposing punitive tariffs, the corporate world remains active in exploring opportunities to work together. The U.S. has advantages in aviation, artificial intelligence and many other fields. These, complementing China’s strengths in areas such as new energy and e-commerce, will deliver benefits to consumers around the world. The world is big enough for the two largest economies to develop themselves and prosper together. BR