Foreign capital is fleeing China in large numbers. Another attention-grabbing itinerary of Chinese President Xi Jinping during the APEC summit was a dinner with U.S. business leaders. It was originally thought that he might use this occasion to appease investors. However, the Wall Street Journal reported that many business people who participated in the dinner revealed that Xi Jinping’s speech was just propaganda at best, and he did not bother to win back American companies and investors. Invest more.
The Wall Street Journal reported that at a dinner with U.S. business leaders and celebrities on the evening of the 15th local time, Xi Jinping tried to win over U.S. companies to help ease bilateral tensions between the United States and China and emphasized the space for cooperation between the two countries. The theme of the meeting with US President Joe Biden did not mention trade and investment, and there was no soothing gesture to companies that were disturbed by China’s increasingly severe business environment.
The report pointed out that many senior corporate executives who attended the dinner were surprised and disappointed. Most of them believed that Xi Jinping missed this opportunity.
Big names from US companies gathered together, but Xi’s speech was hard to empathize with
Well-known companies attending the dinner included Apple CEO Tim Cook and BlackRock CEO Larry Fink, as well as Qualcomm, Boeing, Principals and executives at Blackstone, KKR, Pfizer, FedEx and other large U.S. companies. The report pointed out that these companies all invest in China, with a total market value of several trillion US dollars. Tesla CEO Elon Musk and Salesforce CEO Marc Benioff, who also invest in China, paid tribute to Xi Jinping at the reception before the dinner. But did not attend the dinner.
Xi Jinping gave a speech at the dinner, which also had a special guest, a former Flying Tiger fighter pilot, symbolizing the historic cooperation between the United States and China. Most of the business leaders present gave Xi Jinping’s speech warm applause. Xi Jinping also hinted in his speech that China may once again send new pandas to the United States as friendship envoys. However, the entire speech could not make the participants feel the same, because U.S. companies in China operational risks are rising significantly.
After the dinner, many corporate executives attending the meeting were disappointed with Xi Jinping’s speech. Andy Rothman, chief investment strategy of Matthews Asia, an American fund management company, said: “I am also disappointed that Xi Jinping did not take this opportunity. Responding to the U.S. business community’s concerns about China’s business environment, he also did not share his thoughts on how his domestic economic policies might evolve in the coming quarters.”
The speech did not mention trade and investment, it was just propaganda.
Another senior business executive said, “He didn’t hint that he wanted to make concessions to businesses, or even care about investing more in the Chinese economy. This speech was just propaganda at best.”
Wendy Cutler, vice president of the Asia Society Policy Institute and a former senior U.S. trade official, said: “All eyes will now turn to the working group being established by the United States and China to see whether substantive measures can be achieved. Sexual results.”
However, some people praised Xi Jinping for implementing his visit to the United States, even if his speech was only general. Sadek Wahba, an investor and chairman of the Wilson Center’s Institute for Strategic Competition, believes, “He could have given a more radical and nationalistic speech to defend China. Maybe it was a false comfort, but To me that’s a positive.”
(This article is reprinted with permission from China Central Radio; source of the first image: Dazhi Image)
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