Trade war raises questions for US sports in China
DONGGUAN, CHINA: Senior executives of American sports trying to grow their businesses in China said they are keeping a close eye on developments as a trade war brews between the two superpowers.
US basketball, golf, American football and others have invested significant time and money in their presence in the Chinese market but they face potential disruption if relations sour further.
US President Donald Trump has imposed tariffs on US$250 billion in Chinese goods in an attempt to pressure the country to reverse what he claims are unfair trade practices, prompting dire warnings of a new cold war.
Derek Chang, the CEO of NBA China, said the impact of a protracted trade dispute was hard to predict – but he remained hopeful that sport could act as a bridge between the two countries.
“I think we hope that it won’t impact our business, but you never know,” he told AFP during an on-stage interview at the Sports Connects sport-business conference in Dongguan, southern China.
“That being said... I think sports truly does bridge cultures, I think that’s our focus. You can’t really focus on things that we can’t control.”
The world’s favourite basketball league has built up a huge following over many years in China and gains estimated annual revenues of US$150 million from its Chinese arm, which has been valued of more than US$4 billion. — AFP