As trade ties between China and the United States run deep and closely intertwined, many
American companies are reasonably optimistic about the Chinese market and plan to increase
investment, Craig Allen, President of the U.S.-China Business Council (USCBC) told People’s
Daily.
Win-win cooperation between China and the U.S. plays a key role in driving world economic
recovery from the COVID-19 pandemic. Many voices have been heard from the American
business community urging its government to cooperate with China instead of decoupling so that
the two countries could work together for a more peaceful and prosperous world.
Founded in 1973, the USCBC has actively served as a trade bridge between the two countries,
which has attracted more than 200 U.S. member companies doing business in China, including
many of the world’s iconic brands. The membership is still growing.
Most of the USCBC members have invested in China for decades with a long vision and
commitment, as China remains one of the most essential markets in the world. According to a
2021 survey conducted by USCBC among 107 U.S. firms operating in China, up to 95 percent of
the respondents said they were profitable in the past year, and over 40 percent said they will
increase investments.
China continues efforts to deepen reform and opening up, optimizing an active and friendly
business environment for foreign investors. “American businesses that we talk to are reasonably
optimistic about the future,” Allen added.
It’s the most impressive accomplishment of China to lift hundreds of millions of people out of
poverty and improve their quality of life, Allen marked, looking forward to more high-quality
goods and services in the country with the continuous improvement of living standards.
China’s trade with the U.S. in 2021 reached a record $755.6 billion, up nearly 30 percent year-on-
year. Another record shows that the U.S. goods exports to China increased by 21 percent to $149
billion, said a USCBC recent report.
2021 saw strong trade ties between China and the U.S. Agricultural exports and a big boost to the
economies of the U.S. states with large agricultural sectors.
All 50 U.S. states exported goods and services to China and benefited from the 858,000-strong
American jobs supported by these exports, Allen said. Greater stability can bring more
opportunities to businesses and people in both countries.
Imposing tariffs and decoupling from China are not good for the country, for the U.S., and for the
world, Allen said, stressing the positive aspects of economic globalization.
“We should reject trade blocs and spheres of influence in favor of enhancing the positive aspects
of globalization that have improved standards of living for billions of people over the last several
decades,” Allen said. “The world needs China and the U.S. to play a positive role in continuing
this contribution to a global public good.”
