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CGCC New York Chapter hosted 2015 luncheon series featuring Mr. Jeff Shafer on The United States Economy and Beyond
Friday May 8th, 2015, CGCC New York Chapter hosted its first 2015 luncheon series at the Agriculture Bank of China New York Branch’s conference room. Mr. Jeff Shafer, Founder and Principal of JRSHAFER INSIGHT; Member of the Board of the National Committee on American Foreign policy, addressed his perspective on U.S. Economy in the year of 2015 both from inspections on public policy and interpretations on a variety of data that are relevant to the U.S. economy, with key indicators such as loan and debt availability, interest rate, housing price, oil price, dollar appreciation, equity market and etc.
This remarkable Luncheon Series began with chairman of CGCC and President and CEO of Bank of China USA, Chen Xu, welcoming honorable Ambassador Qiyue Zhang, chief representative of PBOC in North America Xiangyan Song, Mr. Jeff Shaffer as well as all the guests in the room, followed by Mr. Shaffer’s presentation. Mr. Shaffer summarized the U.S. economic performance in the first quarter of 2015 with the support of quantitative data, and concluded that the slowing down of economic growth in the first quarter is less likely to induce a lasting slow down, but the likelihood of another financial shock cannot be dismissed. “Overtime risks are going to build as people forget,” as he remarked in the lecture.
The audiences actively participated in the Q&A session. Many discussions were circulated around Chinese investment in the U.S. under current economic status. Mr. Shaffer believes that currently United States has a good investment opportunity and Chinese investors could benefit from the lack of political transparency. Mr. Shaffer also expressed his expectation on the progress of bi-lateral investment treaty that would benefit both Chinese investors in the U.S. and U.S. investors in China.
Ambassador Qiyue Zhang concluded the Luncheon by stressing the importance of understanding U.S. economy from Chinese investors. She emphasized the necessity of Chinese investors making contribution to the U.S. society, and more importantly, the necessity of acknowledging their contribution to promote mutual understanding. Ambassador Qiyue Zhang pointed out that maintaining a good China-U.S. relationship will create a better environment for the upcoming visit of President Xi Jinping, therefore will facilitate cooperation between China and the U.S. business leaders.