“It’s very hard to predict for how long this kind of tension’s gonna last but I think the fundamental for economic cooperation between China and the United States is there. Therefore, we would expect more cooperation in a long run,” said Qi Bin, the executive vice president of the China Investment Corporation, on the trade conflict between the two nations.
To end the embarrassing situation, Qi said it’s really helpful to keep a dialogue with governors because they realize that some national cooperation has been very important to economic ties between U.S. and China over the past years.
Furthermore, bilateral investment is necessary and China has already done a lot in this area, according to Qi. “We put together a fund to invest in some heartlands of the U.S. and primarily in some traditional industries, which still enjoy the advantage over Chinese industries,” he said.
On the other side, U.S. companies also grow rapidly thanks to the Chinese market contribution. Citing Wisconsin as an example, Qi said the state alone has 20 to 30 companies flourishing in China and those companies, such as Kohler Toilet and A.O. Smith, have expanded about 22 percent annually in China for several years.
“There’s so much complementarity between the U.S. economy and Chinese economy, and we can tap into (that) to benefit both sides,” said Qi.
The expert also said the situation will change as long as more people make efforts to promote or deepen U.S.-China economic cooperation.
“I think we should keep those things up and just hope things would come back to normal,” said Qi.