GEOPOLITICAL NEWS: AmCham Shanghai Annual Report - Analysis
By Iain Fraser - Geopolitical Journalist
Málaga Press & Technology Centre
Majority of U.S. firms in China and vice-versa inclined to stay despite huge Geopolitical concerns.
The American Chamber of Commerce Shanghai's annual report released last Wednesday [9th September 2020] showed that 92.1 percent of its 346 members surveyed said they do not have plans to leave China. However, 5.1 per cent of companies with global revenues over 500 million U.S. dollars plan to leave the country.
Two surveys show that most U.S. firms in China and Chinese firms in the U.S. are adapting to the volatile geopolitical situation and very few companies have plans to leave or move their production and supply chains to other countries.
Among the respondents, almost two-thirds said China-U.S. tensions were their biggest worry, the first time bilateral issues have led the poll, and well ahead of the second biggest concern: domestic competition, on 58 percent.
In response to the data from the surveys, Ker Gibbs, president of AmCham Shanghai said "COVID-19 hit the Chinese economy hard in early 2020, but the recovery was quick, especially in certain industries" "American companies still see China's consumer market as a great opportunity." ...
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About The American Chamber of Commerce in Shanghai
Known as the "Voice of American Business" in China, AmCham Shanghai was founded in 1915 and was the third American Chamber established outside the United States, and now has 3,000 members from 1,500 companies. As a non-profit, non-partisan business organization, AmCham Shanghai is committed to the principles of free trade, open markets, private enterprise and the unrestricted flow of information. More/...
