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On October 5, China General Chamber of Commerce–USA (CGCC) hosted its 2018 Lunch & Learn Series No.4 event “US-China Economic Outlook” at the CGCC New York office. Michael McDonough, the Chief Economist of Financial Products in Bloomberg LP, joined us as a guest speaker to share his insights in the US economic environment and the trade relations between China and US. About 20 representatives from CGCC member companies and partners, such as China Investment Corp, China Unicom Americas, CCPIT U.S., Morrison & Foerster LLP, Cathy bank and People’s Bank of China, attended the event.
During the discussion, McDonough expressed his views of ongoing US-China relations. 80% of U.S. companies in China already feel that less welcome than they did in the past. They believed that the most significant challenges are inconsistent regulatory interpretation and unclear laws. Moreover, this could deteriorate in the future. “The big escalation would be that Chinese government going after [U.S. companies in China] and making it more difficult for U.S companies [to operate] in China,” Michael said.
CGCC “Lunch & Learn” Series aims to provide a platform for CGCC member companies and partners to share industry insights. CGCC welcomes passionate leaders from all members and partners to join this program.