The U.S.-China Trade and Economic Relations: What Now, What Next forum that took place in Hong Kong on July 9-10 this year.

Since last year, the US government has kept escalating its trade frictions with China and seriously undermined the growth prospect of the two countries and the world. The Chinese government has advanced with maximum sincerity its trade talks with

This year marks the 40th anniversary of the establishment of China-US diplomatic relations. For the past four decades, the bilateral relationship has weathered numerous ups and downs as the two countries keep pressing forward.

The recent meeting in Osaka between Mr. Trump and Mr. Xi gives us hope that the US-China trade relationship can move forward again. Immediately before the Osaka meeting, many of us sensed that the people of the United States and China, and in particular in the business world of the two countries, want to see progress being made in the discussions. Trade negotiation is always difficult, and maybe there will be set-backs, but in the end, I believe that common sense will prevail.

Throughout his amazing life, my father played important roles in shaping US policy towards China. He often stated that the US-China relationship was the most important bilateral relationship in the world. He had deep understanding of the cultural, political, and economic complexities vital to normalizing ties. So my views are largely shaped by my father’s views but they are also shaped by over 140 trips to China over the past 44 years.

Through my many years of doing business in China and involvement in U.S.-China relations, it seems to me the solution to our current predicament is and has been for some time rather clear. When President Nixon visited China in 1972, its economy was marginal to world trade. Today, it is the second largest economy in the world and poised to become the global leader.

It’s a humbling experience to follow Prime Minister Fukuda who reminds us that public policy issues such as those we will be considering here are not something new in the international arena. Hopefully we will be able to discover new ways that we can all work together to try and resolve at least some of the more contentious issues that confront us at the moment.

Group Photo of the Speakers at the Forum Opening Session, July 9th, 2019

We are all living today in a world that is so dramatically changing. The China of ten years ago was not playing such an important role in the world economy as today. Within the last decade, the Chinese people, who have exerted all out efforts on economic development, elevated their country to today’s world power position.

It is time we get together at this moment and people will say so soon after the meeting but that is exactly the point, to discuss the impact and importance to all of us. I am glad that today and tomorrow we have an opportunity to thoroughly discuss many important issues. And I hope that our discussions will not only be useful to you but that they will encourage you to take extra steps in support of a very important U.S. and China relations.