US-China Series was built on the recognition that a continuation of the current mood and rhetoric would not lead to mutually beneficial outcomes.
The future of the most important relationship of the 21st century is not limited to the Washington Beltway. Business leaders, policy makers, institutional investors and academics from across the country are joining the US-China Series – all have a strong vested interest in solving critical issues.
We all fear that the prevailing mindset of distrust has outlived the previous US administration. One of the causes of this contention is a misunderstanding of the objectives of both sides. Only with dialogue and participation from all vested interests can both sides get a genuine appreciation of each other's intentions. These conversations can be uncomfortable, but they are necessary for us to develop a framework to deal with the challenges of the years ahead.
This isn’t an intellectual exercise. This is about solutions for business and policy prescriptions for government.
With the promotion of gender, geographical, and ethnic inclusion, we are scratching the surface of what diverse thinking can achieve.
China has leapfrogged the United States to become the undisputed global fintech hub. The speed, sophistication, and scale of China's fintech development is unmatched and attributed to Its high national mobile internet penetration, a large e-commerce ecosystem, its dominant mega-tech companies, and traditionally accommodative regulations. Since the Ant Financial clampdown, Chinese authorities are exploring ways to tighten regulation. Will stricter regulations hinder China's fintech sector growth?
Towards the end of 2020, the European Union and China concluded negotiations for the Comprehensive Agreement on Investment (CAI). This deal strengthens ties between Beijing and Brussels at a pivotal moment for the Biden administration, which is indicating that the United States will end unilateralism and seek a united front with the EU, Japan, and other democratic allies in its trade fight with China. The CAI has potentially halted that opportunity.
The future of the automobile industry will be electric, and China dominates both manufacturing and adoption. Tesla's domestic production capability shows that China will be the epicenter of global EV competition. When combined with stratospheric valuations, few would argue that the Chinese EV sector isn't one of the hottest corporate stories of the new decade. What does China's dominance mean for the future of the electric vehicle industry?
Data is the new oil, and the new oil needs storage containers. If you drive an electric car for one hour, it produces approximately four terabytes of new data. Data that's being created from image recognition, IoT devices, and the e-commerce revolution and it all needs to be stored. China's data center sector is different from the US in several ways—Telecom is dominant, the consumer vs. enterprises has driven the technology boom, there are numerous regulatory barriers to entry, and China is at an early stage of development compared to the US. That said, China's data center market has tripled since 2015 and shows no signs of slowing down.
2020 was an unpredictable year for the US-China relationship. It ended with a new American President, the implementation of a new trade deal, and an upheaval of the global economy due to COVID-19. China has the upper hand economically with its handling of the pandemic, yet is dealing with the fallout of the trade dispute and the vulnerabilities generated by the semiconductor embargo, Hong Kong, Xinjiang, and its regulatory clampdown on its technology giants. Crosscurrents abound as the Biden administration formulates its strategy on how to manage growing Chinese influence. Our panelists provided their analysis and insights on the impact of 2020 on the future of the US-China economic, technology, investment, and geopolitical relationship.
"The US China Series makes an invaluable contribution to the evolving conversation on this most consequential of bilateral relationships. The quality and range of participants, the careful attention to diversity, and the seamless organization of the events combine to make for one of the best China-focused conferences running. Kudos to the conveners!"