The next US president and beyond
Watch closely theUS ‘new normal’ Vital role to play in globalization
Editor’s note: The American Chamber of Commerce in China held a seminar on “The Next US President and Beyond” in Beijing onWednesday. The following are excerpts from the speeches of four participants:
TJames Zimmerman, chairman of the American Chamber of Commerce in China his US presidential election has been about the rise of unconventional candidates. And it is not only in the United States but also over issues such as Brexit that unconventional candidates are rising in many countries. This should make us realize that people have anxieties about their future. This is a global trend, and no country can be immune to it. So China has to pay special attention to the underlying anxiety among people in the US.
The US and China are the largest and second-largest economies in the world, and they need to work together. The two economies are highly integrated and interdependent. Therefore, the questions being raised on globalization are a cause for concern for their leaderships, especially because the Sino-US relationship has to be constructive and positive. markets, as well asUS businesses that rely on commodities or products made overseas.
Other countries could retaliate in ways that are damaging toUS interests. This kind of rhetoric might make voters feel better during the campaign butmy own viewis that such an approach will not work in practical terms. Imposing such a large tariff could actually hurt Americans as much (if not more) as China and would in that sense likely be a case of cutting our nose off to spite our face.
I do expect a tougher posture by the incoming Trump administration on issues related to international trade and commerce, including a major push for reciprocity in bilateral economic relations. But only time will tell how specifically this will be implemented. Randal Phillips, vice-chairman of American Chamber of Commerce in China strategy, the US seems to offer China a number of things that it could face itself later. If Trump imposes 45 percent tariff on Chinese imports, as he said during the presidential campaign, the US could face similar tariff on its exports to China, leading to a destructive trade and investment environment. This “new normal” should be watched more closely.
When it comes to the environment, we want the two countries to become greener. They should also become wealthier and stronger by following the global rules we all accept. They have not yet done that, but we hope they will.
AXu Yang, chair of the Chinese Government Affairs Committee, American Chamber of Commerce in China lot of stabilizers exist in the China-US relationship. As the newleadership takes office in the WhiteHouse, it will hopefully establish a newmechanism for the two major powers to interact and cooperate. And China’s outbound investors will surely help forge that mechanism by discussing market access with theirUS counterparts.
Trade protectionism is not a new issue; the trend is returning in many countries across the world. The G20 leaders and trade ministers promised at the Hangzhou summit in September to make globalization more inclusive so that small and medium-sized enterprises and many people left behind by globalization can participate in it and enjoy its benefits. The incoming Trump administration in the US will have a very big role to play to make that happen.