Center For Business
China Institute’s Global Council takes place twice a year as invitation-only forums among C-suite executives that explore timely issues impacting businesses in the U.S. and China. Held in both New York and China, these closed-door meetings offer high-level insights, convening thought leaders to discuss challenges and opportunities in the U.S.-China business relationship.
Fall 2018 Global Council Meeting
November 27, 2018
In the midst of escalating conflicts and tensions between China and U.S., China Institute’s latest Global Business Council featured candid and insightful conversations between Hank Greenberg and Yue-Sai Kan on U.S.-China Business: Navigating Troubled Times, data-driven analysis and talk on China’s economic reform by Nicholas Consonery of Rhodium Group, and a riveting briefing of China’s green tech investment opportunities with Barbara Finamore of NRDC. China Institute gratefully acknowledges EY for its support of the Fall 2018 Global Council Meeting.
“China has to open its market. It doesn’t need the same protections it needed 35 years ago. As for the Chinese, they’re smart people. They will compete, they are very aggressive. But you can’t have them competing in the U.S. while Americans can’t compete in the same way in China. And you can’t have requirements to hand over technology to China. That’s just wrong. There’s no excuse for that.” –Hank Greenberg
“There’s a line of thinking in Washington these days, that US policy of engagement was a mistake, that China never really meant to reform in the first place. Our analysis is that no. It’s clear that the government was committed to reform, but that it continues to face blowback from economic fragility or economic stakeholders or whatever.” –Nick Consonery
Nick Consonery’s recommendations: What could China do to get the US-China relationship (and its own economy) back on track?
1) A nationwide property tax
2) Revoke requirements for all but most critical industries (i.e., energy, telecoms)
3) Remove technology transfer requirements.