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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.
About
CGCC
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.