In the face of a global recession, China looks set to be one of the few countries that will expand, economically and politically, analysts say.
Geopolitical tensions and the coronavirus have stalled foreign direct investment into China. But companies have vested interests that are unlikely to change quickly.
Beebe also noted the Chinese government has asked for the chamber's support in recommending to policymakers effective ways that stimulus can be efficiently channeled to small- and medium-sized companies.China has been a little more forceful on the geopolitical front. Controversy over the origin of the coronavirus spurred heated commentary from Chinese diplomats that's spread tensions beyond the U.S. to parts of Europe, Australia and other countries.
Growth still remains the bottom line for China's authoritarian government to ensure social stability. Premier Li Keqiang used a high-profile press conference on Thursday last week toThe country's optimism overshadows remaining challenges at home, and the political risks U.S. and other businesses may face from their own governments.
"Really, ideally, to get back to a decent place in the relationship, we need a return to real market reform in China," he said. "That would include privatization, disciplines on state-owned enterprises, better rules around subsidies addressing this issue of technology coercion." While Trump said the changes would "affect the full range" of agreements that give Hong Kong preferential treatment versus mainland China, he gave few details. Similarly, the new security law leaves plenty of uncertainty over the extent to which the central Chinese government will begin to actively control affairs in Hong Kong, which has so far remained a city with greater freedom of speech and alignment with international financial standards than the mainland.
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