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China Development Forum on China US Trade Tensions

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Reported by: Chen  Released on: 1/Apr/2018

The China Development Forum was held in Beijing on Mar. 24, 2018. Many leaders in business, media, finance & education were invited to this forum.  They shared their view on the recent China US trade tensions.

Hans-Paul Burkner, Chairman of the Boston Consulting Group
Tariffs need to come down, and every effort of protectionism will ultimately be damaging to the world economy but also to the local economy. That's why I think it's a big challenge and I very much hope that over the coming weeks and months China and the US will find a solution to the dispute and ultimately we will see all tariffs coming down and the further opening up of the market in China, US, Europe and the rest of the world.

Lorenzo Bini Smaghi, Chairman of Societe Generale
I hope China-US tariff tensions will not last longer, and maybe we can get an agreement to avoid an escalation as it is not good for the world economy. My wish is for people to sit at the table to discuss more, because nobody will gain from trade disputes.

Peter Jungen, Chairman of Peter Jungen Holding
It was unwise for President Trump to start trade tensions, because China-US trade is particularly in favor of US consumers. The bilateral trade for the two countries has helped US reduce prices for goods and increase disposable income substantially.

More than 25% of Yes-Hope’s goods were shipped to the US market. High quality bluetooth headphone, Wireless Earphone, headphone, Bluetooth speaker are the top 4.  We’re now monitoring the situation and it’s too early to predict how the China-US trade tensions will end up.  But one thing for sure is that if the situation becomes worse, this potential trade ware will damage all economies.