US-China Relationship: What Businesses Need to Know
Business organizations and state governments have a role to play in shaping the future US-China trade relationship. Whether it’s attracting Chinese investment to states such as Illinois or opening China’s markets to our product and service exports, the China market is too dynamic to leave important policy decisions to other actors. At the same time, the costs of decoupling are substantial, as a new US-China Business Council (USCBC) study demonstrates. Ambassador Craig Allen will discuss ways Central Illinois can benefit from a thoughtful approach to China’s rise as a superpower rival to the US.
This webinar will benefit anyone with an interest in the US's global role in policy, commerce and trade and how it is increasingly being defined by our relationship with China. Moreover, as the US and China experience a rapid shift in how trade is pursued, it is important that anyone engaged in business with China is aware of the larger context that is driving this sea change, so they are able to take an informed long-view in formulating business strategy with this important partner and rival.
Ambassador Allen will provide background on the trade tensions between China and the US that have escalated into disputes in areas, such as technology and finance. Is there a middle ground for US businesses to take in order to benefit from their dealings with China?
Allen will outline what every business needs to know to plan for the future in this rapidly evolving environment and how US businesses are working to shape the future of the relationship between the US and China.
Importers and exporters benefit from a thoughtful, informed approach to our strategic relationship with China. Over two and a half million jobs in the US are dependent upon trade with China. Illinois exports alone make up over 42,000 of those jobs. Goods exports to China in 2019 totaled $4 billion.
We will explore how current tensions will likely play out into the next Administration and how more extreme outcomes, such as decoupling and tariff conflicts, complicate business here and our competitiveness abroad.
Our Speaker: Ambassador Craig B. Allen
On July 26, 2018, Craig Allen began his tenure in Washington, DC, as the sixth President of the USCBC, a private, nonpartisan, nonprofit organization representing over 200 American companies doing business with China. Prior to joining USCBC, Craig had a long, distinguished career in US public service. Craig began his government career in 1985 at the Department of Commerce’s International Trade Administration (ITA). He entered government as a Presidential Management Intern, rotating through the four branches of ITA. From 1986 to 1988, he was an international economist in ITA’s China Office. In 1988, Craig transferred to the American Institute in Taiwan, where he served as Director of the American Trade Center in Taipei. He held this position until 1992, when he returned to the Department of Commerce for a three-year posting at the US Embassy in Beijing as Commercial Attaché.
This event is co-sponsored by Peoria Area World Affairs Council (PAWAC).