On Friday, October 25th, 2019, China General Chamber of Commerce – USA (CGCC) hosted a Lunch & Learn event in New York titled “Macro Outlook & U.S.-China Relations”. Michael McDonough, the Chief Economist and Global Head of Central Banking Product at Bloomberg LP presented his latest research findings and viewpoints on the outlook of U.S.-China relations to over 80 CGCC members in attendance.
In his remarks, Mr. McDonough reviewed major events that occurred throughout the past few years within the context of the U.S.-China trade war. McDonough explained that while the uncertainties brought by these events have resulted in delayed investments and rising precaution among business communities, he expressed confidence in both governments’ abilities to reach an initial agreement, despite the profound differences that need to be addressed and managed through long-term negotiations. In his outlook on economic growth in both countries, Mr. McDonough indicated that the advancement of technology, especially artificial intelligence, will continue to cause disruption to the service sector and its workforce. He also mentioned that the changing demographics distribution in China will also become a major issue that hampers economic growth in the future.
The CGCC Lunch & Learn Series aims to provide a platform for leaders from CGCC member companies and partners to share their industry insights with other member companies and team members. CGCC welcomes all passionate leaders its members and partner organizations to join this program.
Michael McDonough is the Chief Economist and Global Head of Central Banking Product at Bloomberg LP where he provides guidance on economic trends, strategic insight, and outreach to central banks and government financial agencies around the world.
CGCC greatly appreciates Mr. McDonough for speaking at this Lunch & Learn as well as supporting the program’s growth over the years.
Founded in 2005, the China General Chamber of Commerce – USA (“CGCC”) has been recognized as the largest and most influential non-profit organization representing Chinese enterprises in the U.S. Its membership consists of more than 1,500 Chinese and U.S. companies, 54 of which are ranked on the 2019 Fortune Global 500. CGCC’s mission is to create value, generate economic growth, and enhance cooperation between the U.S. and Chinese business communities. CGCC conducts extensive research and provides a broad range of programs, services, and resources to its members and key stakeholders in an effort to foster the mutual understanding, trust, and engagement between China and the U.S. As of 2018, CGCC’s Chinese member companies have cumulatively invested over $120 billion, employ more than 200,000 people, and support over one million jobs throughout the United States.