China welcomes US firms to Belt and Road

Publisher:Release time:2017-05-11Number of views:10

With global connectivity having fueled its 40-year growth spurt, China is now looking to help its fast-growing neighbors build infrastructure needed to tap international markets.

And that means opportunity for the US, experts said on March 2 at a Belt and Road Initiative conference eat the Carter Center in Atlanta.

Fueled by billions in infrastructure funds, the ambitious plan aims to restore or enhance millennia-old links between China and its historic trading partners. China has already begun helping countries and international organizations which showed interest in the plan to accelerate their existing growth plans through capital and construction know-how.

So far, about 40 countries and international organizations signed cooperation agreement with China.

Nicholas Kwan, research director of the Hong Kong Trade Development Council, believes the world is in need of productive capital, especially in a time of "de-globalization".

"We are at a time when capital only goes to quick and easy places and perceived safe places after the crisis," Kwan said.

In a venue that houses the library and nonprofit of US President Jimmy Carter, who normalized relations with China, speakers acknowledged how far bilateral ties have come since 1979.

But working together commercially in Asia won't necessarily be easy as many major economies like the US seem to be shifting inward.

Geopolitical tensions are also mounting, as US President Donald Trump has surrounded himself with economic advisers wary of China's rise and defense officials taking a harder line on China's stance in the South China Sea.

Tian De you, minister counselor for economics at the Chinese Embassy, emphasized that Belt and Road Initiative focuses on long-term growth and is" open and inclusive", providing opportunities for American firms with exposure in China, like Dell, John Deere, Goldman Sachs and Caterpillar.

GE Power is a tangible example. The American giant is working with a consortium of Chinese utilities to build three plants in Pakistan, a deal that made use of its deep China partnerships and financial support of the Chinese government, said James Su ciu, GE's vice-president of strategic accounts.

"Chinese engineering-procurement-construction companies are great partners, and with that, because of our footprint we can obviously tap into that financing that's available for Chinese exports, and we do it quite a bit," Su ciu said.

These stories show how the bilateral relationship can work, despite the rocky start under the new president, Tian said.

"We respect the choice of the American people, and we are ready to do our best to try and continue the existing China-American relationship," Tian said.

"This is too big of a relationship. We have to treat it with care."

Copyright©2020 上海社会科学院数据中心版权所有沪ICP备10019589号-16 沪公网安备 31010102002389号
开启辅助工具