September 20, 2019 – Hong Kong – There should be no US-led disengagement from China, no matter how tense the relationship becomes, AmCham’s China Conference concluded. Instead, leaders in Washington who feel threatened by China’s rising power should reignite their faith in multilateralism and press Beijing to integrate into the global trade and investment system that has delivered, and will continue to deliver, prosperity and global stability.
That was the message from the annual China Conference of AmCham Hong Kong – a key platform to discuss US-Hong Kong-China trade issues – which was attended by over 25 speakers, from corporate CEOs, entrepreneurs, leading academics to current and past US President advisers.
More than 200 attendees also heard how technological transformation in China was opening up a vast array of opportunities for business – as well as exposing new risks and dangers.
“The current geopolitical anxiety and mistrust risks potential deterioration by developments in technology and the fierce forces of globalization,” said Tara Joseph, AmCham President. “To counter these destructive trends, we must place greater emphasis on the human aspects, such as trust in one another.”
Other key takeaways:
- US-China friction cannot be solved only through a trade deal
- The US and China must both shoulder the burden of rebuilding trust and mindset towards conversion, instead of diversion that will slow down the global economy
- The Cold War, bi-polar mindset is dead
- Engagement cannot be dropped in the US-China relationship; a ‘new normal’ of competition looms and volatility will create many new risks
- Hong Kong’s value as a connector between US and China has not diminished
- There is an opportunity now to resolve Hong Kong’s political crisis, but the window is closing fast
- The GBA Plan has accelerated investments and growth into the area
- Technology is opening a vast range of opportunities -- both in China as well as from China, but they also come with vast potential risks
- Business leaders must be more strategic and think more creatively to meet challenges from the new US-China relationship
This year’s event was generously sponsored by Visa Hong Kong (Platinum sponsor), China-Singapore Guangzhou Knowledge City Investment and Development (Gold sponsor), The Chinese University of Hong Kong and Cushman & Wakefield (Bronze sponsors), as well as United Airlines (AmCham’s official carrier 2019). Supporting organizations include AmCham China, AmCham Shanghai, Asia Society Hong Kong Center, ASIFMA, China Development Institute, Hinrich Foundation, Hong Kong Trade Development Council, Invest Hong Kong, South China Morning Post, and US-China Business Council.
Photo 1: Morning Keynote Speaker Evan Medeiros (Photo: AmCham HK)
Photo 2: From left: Mary Hui, Steve Vickers, Regina Ip, Daniel Fung, Shibani Mahtani (moderator) (Photo: AmCham HK)
Photo 3: Fireside Chat with Michael Pillsbury (Photo: AmCham HK)
Photo 4: Luncheon keynote Charlene Barshefsky (Photo: AmCham HK)
Ms. Queenie Tsui
Manager, Government Relations & Public Affairs
E-mail: [email protected]