With 155 official delegates to the SelectUSA Conference, Chinese investors have been emphasizing their willingness to address the needs of U.S. communities that have felt swept away by the changing tides of globalization.
CGTN’s Daniel Ryntjes reports.
“We are going to show our products and services to the U.S. market,” Zheng Jiansheng, president, China Gold Fortune International Group said “But we also want to employ local people to help improve employment in the states and increase tax revenues for the states.”
Cabinet officials from the Trump administration have been setting out their priorities, while U.S. states, cities and counties are engaging in deal-making, persuading foreign investors that they are adapting to the needs of a 21st century globalized economy.
“Great business people find opportunity no matter what the circumstances are,” Buddy Rizer, executive director, Loudoun County, Va. Department of Economic Development said. “So you adjust your strategy, or you adjust your markets or you adjust how you approach things. But at the end of the day, every market has opportunity and I think smart investors are finding their opportunities now.”
The head of a global infrastructure fund managing $70 billion of investment capital says addressing political issues head-on also makes long-term business sense.
“Not just looking at the economic narrative but to look at the public, and the social, and the political aspects that are clearly important, that have to be addressed in order to win the hearts and minds and enable greater foreign investment and greater private investment in this country,” Brett Himbury chief executive of IFM Investors said.
Chinese investment raised some concern after a recent New York Times article highlighted worker tensions at the Fuyao Glass factory in Ohio, stemming from what it called “culture clash.” The factory owner denies such problems exist. But those advising the Chinese said there’s a commitment to addressing these kinds of issues.
“Especially for these investors, people need to learn and upgrade their knowledge and upgrade to a higher level in this process. You know, it’s painful, but it’s inevitable,” Leo Zhu, director of International Department, Zhejiang Chession Law Firm said.
Most delegation members here understand that the politics that brought Donald Trump into office cannot be ignored.
The Chinese investors have made clear they are willing to spend the time and money needed to address these complex issues in order to ensure that their investments are sustainable for the long term.