So what’s the American business community’s reaction to the Trump win at the American chamber of commerce election event? Speakers were digesting the initial shock and replacing it with resolute optimism.
CCTV’s Cheng Lei reports the story.
American business community in China express optimism for futureSo what’s the American business community’s reaction to the Trump win at the American chamber of commerce election event? Speakers were digesting the initial shock and replacing it with resolute optimism. CCTV’s Cheng Lei reports the story.
Don’t interpret Trump’s campaign talk as policy — was the advice from seasoned business and political veterans.
“There’ll be difference between rhetoric and in governance. More pragmatic policies. Still geared toward the same things, especially large swathes of Americans who feel left behind, because of globalization, tech. he would have to be pragmatic if he wants to be effective,” Paul Haenle, the director of Tsinghua-Carnegie Center said.
Whoever the president is it probably won’t affect Chinese tourists getting visas to the U.S. — 3 million per year. But it would impact the business relationship — worth $560 billion in trade and $100 billion in investments. Businesses expect a rockier 2017.
Despite recent efforts to finish the Bilateral Investment Treaty, chances are negotiators may need to go back to the drawing board.
“Any treaty needs senate approval. tough for US. limited time. trump admin, more trouble to make it happen, need to be so advantageous. which isn’t going to happen. well thought through negotiations, on both sides, the need for bit hasn’t gone away. Need to be rejigged,” said Randal Phillips, a partner Mintz Group.
Like after Brexit, intermediary organizations like the chamber feel the weight of their bridging role more keenly.
While pragmatism is expected to prevail over the new uncertainties for the world’s biggest business relationship, Trump’s surprise win highlights rising business risks from the global gap between politicians and grassroots.
Ross Feingold and Dan McClory on China-US trade relationship
For more on post-election China-U.S. trade relations, CCTV America’s Rachelle Akuffo spoke with Ross Feingold, the senior adviser of DC International Advisory and Dan McClory, the president and Head of China for Boustead & Co.