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Intellectual people
Diplomatic tensions are the biggest concern for US companies in China, but they have no intention of withdrawing en masse from here.
Diplomatic tensions are the biggest concern for American companies in China. (Illustration: AP)
Newspaper South China Morning Post Office (SCMP) According to a survey by the United States Chamber of Commerce in Shanghai, China, about two-thirds of American companies in China say that rising tensions between the two countries are the biggest concern for their businesses. they are in china. This is the first time that tensions in bilateral relations have become the biggest concern of US companies in China, even greater than fears of competition in the domestic market (58%).
About 22.5% of the companies surveyed said they postponed their investment plans due to the trade war between the United States and China. This rate is lower than 32.3% in 2019, which shows that American companies in Shanghai are gradually adapting to the new reality.
About a third of companies responding to the survey said tensions between the United States and China affect China’s ability to maintain its workforce, especially in the fields of education, training and warehousing. mixture.
However, more than 92% of AmCham members in China say they have no intention of leaving the world’s second largest economy. Only 5.1% of companies with global revenues of more than 500 million dollars intend to withdraw from China despite the fact that US President Donald Trump repeatedly warned of the “separation” of economic relations with Beijing.
Trump: America lost billions of dollars
At a press conference on July 9, Trump said: “We have lost billions of dollars, if we don’t do business with them (China) we will not lose billions of dollars. That’s called separation. Two economies, so get started. to think about this. “
The White House owner added: “With my time, we will make America the world’s manufacturing superpower and end dependence on China, once and for all, that could be it.” It is to separate economic relations or impose a series of taxes as I have been and do ”.
Armcham’s survey found that only 4.3% of its members in China plan to relocate some of their operations back to the US More than 85% of US companies in China have been operating here for more than a decade , and only 4.6% have been operating for less than 5 years. This shows that these companies are less affected by short-term market fluctuations and the geopolitical situation.
“That is why we are very concerned about requests for the separation of economic relations (US – China). Our biggest concern is how to know what the White House is and where we are going, ”said Ker Gibbs, president of the American Chamber of Commerce (AmCham) in Shanghai.
Mr. Gibbs mentioned the risk of US companies being banned from using China’s WeChat app. “We are waiting until September 20 to see what the concrete situation is, to be honest, we are very concerned. If American companies in China were banned from using WeChat, it would be a very bad scenario, “Gibbs said.
Some American business leaders have said they are waiting for the 2020 presidential election to pass in the hope that the current turmoil will be replaced by more predictable and stable stability in 2021. However, not a few companies are concerned about the current tension between the United States and China it may last many more years.
Minh Phuong
According to the SCMP
