When China was unhappy with South Korea over its decision to deploy a US missile defense system several years ago, Beijing punished Seoul by limiting cultural exchanges between the two sides.
This month, Beijing was even angrier at the visit of US House Speaker Nancy Pelosi to Taiwan, which China, of course, claims as its territory. Notably, however, Beijing has not retaliated against US companies amid the bitter dispute.
“It is encouraging to see that business continuity and business between the United States and China continues, and that there have been no threats against American companies,” said Steve Orlins, president of the prestigious National Committee on US-China Relations at US-China. Business Forum held at Forbes on the fifth Tuesday. “Keep in mind that’s not always the case.”
“You had pop singers from South Korea who couldn’t perform in China, a whole host of things. We don’t see that now,” and it shows that there is an understanding at higher levels of the Chinese government that continuing to do business while we are going through this diplomatic and political crisis is a good thing.
“The media paints a much darker picture,” Orlins noted. “There were huge risks” to Pelosi’s visit, “but business continued, investment continued and trade continued,” said Orlins, the committee’s head since 2005 who previously has held senior positions at Lehman Brothers and Carlyle Asia.
Orlins’ optimism today contrasts with his own perception of the crisis earlier this month. “The conversation was so dark before the visit: would the President’s plane be hijacked by the PLA Air Force? Would she be allowed to land? Would she have the right to take off?
“The fact is that we are now going through the acute phase of this crisis and the crisis management mechanism between the United States and China during this period has worked really well,” Orlins said.
Orlins hailed the businessmen’s role in stabilizing ties between the United States and China, the world’s two largest economies. “Americans who invest are ambassadors of American culture, history and values in China. When China began investing in the United States, the Chinese people who invested in the United States were ambassadors of China’s culture, history and values, just like the Americans who had invested decades earlier.” , did he declare.
The 4e The US-China Business Forum was organized by Forbes China, the Chinese-language edition of Forbes. The rally was held in person for the first time since 2019; it was held online in 2020 and 2021 at the height of the Covid 19 pandemic.
Other speakers included the Chinese ambassador to the American Qin gang; Wei Hu, President, China General Chamber of Commerce – United States; James Shih, Vice President, SEMCORP; Abby Li, Director of Corporate Communications and Research, China General Chamber of Commerce; Audrey Li, Managing Director, BYD America; Lu Cao, Managing Director, Global Corporate Bank, Corporate & Investment Bank, JP Morgan.
Also speaking were Sean Stein, President of the American Chamber of Commerce; Ken Jarrett, Senior Advisor, Albright Stonebridge Group; John Quelch Dean Emeritus and Honorary Chairman of the CEIBS International Advisory Board; Dr. Bob Li, Physician Ambassador to China and Asia-Pacific, Memorial Sloan Kettering Cancer Center; and Yue-Sai Kan, Co-Chair, China Institute.
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