China's dual circulation and implications for foreign businesses
Foreign companies expressed concerns on China's dual circulation policy on their business and operation prospects. In this upcoming webinar, the American Chamber of Commerce (Hong Kong) has invited two speakers, including Senior Research Fellow Stephen Olson, to dissect the policy and its ramifications.
China unveiled the Dual Circulation strategy in the midst of slowbalization and rising US-China strategic competition. The strategy has two main aims: to spur demand at home and embrace globalization. While the Hong Kong government and local businesses welcome Dual Circulation as it will bring new business opportunity, foreign businesses remain cautious on the potential ramification. According to the latest AmCham China's White Paper, the emphasis of self-reliance in emerging technologies has created concerns in the business community that China will prioritize the acquisition of critical technology without allowing foreign firms to compete on a level playing field.
What are the risks and opportunities for international companies? In order for internal circulation to work, does it mean China eventually need to rebalance income towards ordinary households? Will we see supply chains shift out of China as wages go up to boost domestic consumption? Will China remain manufacturing hub of the world?
In this AmCham webinar, we are pleased to have Hinrich Foundation Senior Research Fellow Stephen Olson and Andy Xie, an independent economist, to unpack China's dual circulation and its impact. The discussion will be moderated by Ben Simpfendorfer, CEO of the Silk Road Associates.
Senior Research Fellow, Hinrich Foundation
Mr. Olson began his career in Washington DC as an international trade negotiator and served on the US negotiating team for the NAFTA negotiations.
He subsequently became president of the Hong Kong-based Pacific Basin Economic Council, and vice-chairman of Cairo-based ARTOC Group for investment and development. He is also a visiting scholar at the Hong Kong University of Science and Technology. He has a master’s degree in international relations from the Johns Hopkins School of Advanced International Studies and a B.A. from the State University of New York.