PRNews

Michael Hart: U.S. Businesses Optimistic in China Amid Evolving Trade Landscape

Cision | Thu, Dec 19 2024 11:25 PM AEDT

1695367561_650d4189d32c8_1692951951_64e8658fe70f4_breaking_news_600.png
Image Source: Sivastatz

BEIJING, Dec. 19, 2024 /PRNewswire/ -- In an interview with Beijing Review, Michael Hart, President of the American Chamber of Commerce in China (AmCham China), shared his insights on the evolving economic and trade relations between China and the United States, and the opportunities the Chinese market offers to U.S. businesses.


AmCham China President Michael Hart: The No.1 concern for AmCham China members is U.S.-China relations

Hart, with nearly 30 years of experience in Greater China, highlighted that China has transformed from a low-cost manufacturing hub into a leader in cutting-edge manufacturing as well as a major consumer market. As China's middle-income group grows wealthier, American companies have increasingly found opportunities to sell their goods, especially in sectors like healthcare, retail and automobiles.

Despite the downturn in bilateral trade statistics in recent years, Hart attributed these shifts to the diversification of supply chains. He emphasized that while some companies are considering diversifying their supply chains, most do not plan to leave China. U.S. businesses still see the Chinese market as essential for their global strategy.

Hart further noted that the demand for high-quality U.S. products will continue to grow as China's consumer base becomes more sophisticated. This aligns with the findings from AmCham China's 2024 business climate survey, which revealed increased optimism among companies selling to Chinese consumers.

Regarding the future of China-U.S. economic relations, Hart stressed the importance of cooperation. He believed that despite tensions, the two economies are interdependent, and continued trade benefits both nations--and the global economy. He also pointed to the role of business in building bridges between China and the U.S., helping to stabilize relations during times of political friction.

Looking ahead, Hart remains optimistic about the opportunities in China, particularly in innovative sectors like electric vehicles and healthcare, where U.S. companies can leverage China's advancements for global success.

Comments to zhangshsh@cicgamericas.com

X: https://x.com/BeijingReview/status/1863810674377515165 

TikTok: https://www.tiktok.com/@cachinachic/video/7444042449955065118?is_from_webapp=1&sender_device=pc&web_id=7438883390264673800 

Facebook: https://www.facebook.com/BJReview/videos/589526013759441 

Website: https://www.bjreview.com/Multimedia/Video/Pacific_Dialogue/202412/t20241203_800385990.html

Stock Market

Asia stocks slide tracking US peers amid recession risks

This article first appeared in Investing.com

Investing | Tue, Mar 11 2025 03:07 PM AEDT

Read More
PRNews

'Ne Zha 2' highlights global potential of Chinese animation

BEIJING, March 11, 2025 /PRNewswire/ -- A news report from chinadaily.com.cn: Michael Woo Kim-kong, a member of the CPPCC ...

Cision | Tue, Mar 11 2025 12:34 PM AEDT

Read More
PRNews

Johnson Controls-Hitachi Air Conditioning Powering Indonesia's Hotel Transformation

JAKARTA, Indonesia, March 11, 2025 /PRNewswire/ -- As Indonesia's hospitality sector recovers and grows in the energy transition era, Johnson Controls-Hitachi Air ...

Cision | Tue, Mar 11 2025 12:30 PM AEDT

Read More
PRNews

Vietnam strengthens Esports industry with national TV involvement

HANOI, Vietnam, March 11, 2025 /PRNewswire/ -- Vietnam's esports industry is experiencing unprecedented growth, and with the involvement of national TV ...

Cision | Tue, Mar 11 2025 12:00 PM AEDT

Read More
PRNews

STRADVISION Surpasses 3 Million Units in Cumulative Production, Achieving a Record-Breaking Year in 2024

SEOUL, South Korea, March 11, 2025 /PRNewswire/ -- STRADVISION, a global leader in AI-powered vision perception technology, proudly announces a new ...

Cision | Tue, Mar 11 2025 11:32 AM AEDT

Read More