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International Relation

Spotlight: Business leaders call for recalibration of China-U.S. relations

August 14, 2020


Abstract : Business leaders from both the United States and China have called for recalibrating U.S. policies on China and building up bilateral trust via dialogue, as Chinese companies operating in the United States become less satisfied with the investment and business environment in the country.

by Xinhua writers Liu Yanan, Pan Lijun

NEW YORK, Aug. 13 (Xinhua) -- Business leaders from both the United States and China have called for recalibrating U.S. policies on China and building up bilateral trust via dialogue, as Chinese companies operating in the United States become less satisfied with the investment and business environment in the country.

Some 19 percent of respondents said they are unsatisfied or very unsatisfied with the U.S. investment and business environment, according to a newly released survey report of 160 Chinese companies operating in the United States conducted by the China General Chamber of Commerce-USA (CGCC).

The disapproval rate is higher than the 16 percent in 2019 and 5 percent in 2018, according to the survey.

The survey also showed that 26 percent respondents believe that U.S. investment and business environment would decline at least moderately in the next two years, which is roughly in line with 33 percent in 2019 but much higher than 12 percent in 2018 and 5 percent in 2017.

"We have to keep national security concerns in perspective. Not everything is a national security emergency," said Craig Allen, president of the U.S.-China Business Council in a panel discussion on the occasion of releasing the survey report.

It is "a very negative trend that we need to defend ourselves against," Allen said, adding that both sides should work on building up mutual trust, "which is at a historic low right now."

"It is certainly something that we can achieve together," he said.

The United States should recalibrate the policy of rule of law, said Chris Marlin, president of Lennar International, adding that U.S. laws target certain kinds of countries and actors in a way that may appear to others as discriminatory.

That calls into question the notion of rule of law in the United States, Marlin said.

The China-U.S. relationship needs to be recalibrated, said William Zarit, chairman of American Chamber of Commerce in China, adding that statesmanship is required.

Let business be business; geopolitical issues are too heavy for business to carry, said Ni Pin, president of Wanxiang America Corporation and chairman of CGCC Chicago.

"Let business become the stabilizer for the relationship," said Ni.

Policymakers have to determine what they really want, said Ni, adding that if they want a constructive result, they cannot use a destructive approach. Enditem

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