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Apr-29-2008Help Wanted: Top Managers in China(topic overview)
CONTENTS:
- AmCham argues China should continue and accelerate progress toward fair market access; greater transparency and uniform national treatment; and consistency and predictability of the legal framework in order to complete China's transition to a market economy. (More...)
- "With slowing economic growth in the U.S., the focus needs to be on enhancing America's overall competitiveness rather than seeking defensive protectionist solutions," Zimmerman said. (More...)
- Factors with the biggest financial impact last year included price pressures from competition and major customers, rising salaries and wages, changes in raw material prices, tax expenses and real estate cost inflation, the survey said. (More...)
- Beijing should "distance itself from regulations that inhibit competition" and repeal laws that limit foreign investment, said Harley Seyedin, chairman of the South China chamber. (More...)
- Domestic politics in the U.S. would not derail Sino-US trade relations, said James Zimmerman, chairman of AmCham China. (More...)
- In an annual report on competitiveness, the Chamber says rising costs have removed some of the competitive advantage China has enjoyed in recent years. (More...)
- Critics of Beijing's trade record say currency controls and import barriers are partly to blame, and some American lawmakers are calling for punitive tariffs on Chinese goods. (More...)
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AmCham argues China should continue and accelerate progress toward fair market access; greater transparency and uniform national treatment; and consistency and predictability of the legal framework in order to complete China's transition to a market economy. These steps will help China reach its goal of full global market integration and continue to encourage American foreign direct investment. This year's White Paper indicates that U.S. companies remain bullish on China as an investment destination, with many planning to expand throughout the country. "Despite this positive outlook, China's rapid growth has also created a fiercely competitive business environment that is driving significant cost increases," said AmCham Shanghai Chairman J. Norwell Coquillard. [1] The U.S. should focus on enhancing its overall economic competitiveness instead of seeking protectionism to combat its economic slowdown, said the latest 2008 White Paper: American Business in China. And, it should not press for yuan appreciation to reduce its trade deficit with China since the value of the yuan is not the fundamental cause of the deficit, said the White Paper, which was released by the American Chamber of Commerce (AmCham) China, AmCham Shanghai and AmCham South China Tuesday. Battered by the subprime crisis, the U.S. economy is slowing while its trade deficit with China remains high, standing at $163.3 billion last year.[2] Releases 2008 White Paper on American Business in China BEIJING, April 28 /Xinhua-PRNewswire/ -- The American Chamber of Commerce in China (AmCham-China), the American Chamber of Commerce in Shanghai (AmCham Shanghai) and the American Chamber of Commerce in South China (AmCham South China) today released the 2008 White Paper: American Business in China. Based on the views and experiences of their 7,000 collective members, this report -- AmCham's tenth annual edition-is the most comprehensive to date on the state of U.S. business in China. Through this annual White Paper, AmCham offers its unique perspective on the PRC's business climate and provides detailed recommendations for enhancing business conditions in both Beijing and Washington. With the two countries' economies becoming increasingly interlinked, this paper serves both as a benchmark of progress and as a catalyst for furthering bilateral discussion.[1]
In an annual report on business conditions, American Chambers of Commerce for China, Shanghai and South China rejected calls by some in the United States for punitive measures over Beijing's trade surplus and currency controls. They also called on Beijing to repeal rules that limit foreign investment and competition. "Defending and preserving the openness of the trade relationship should be a core commitment of both the U.S. and Chinese governments," James Zimmerman, chairman of the American Chamber of Commerce in China, said at a news conference Monday.[3]
The Chambers of Commerce said U.S. companies are facing sharply rising costs in China and barriers to imports and investment. They said 70 percent of 800 American companies that responded to a survey made money in China in 2007 and many said it is a key market. Some 64 percent said their five-year outlook for China was optimistic — the highest rating. The report found Chinese protectionism was cited by 17 percent of companies as their top challenge. Business groups say Beijing is trying to promote the growth of Chinese competitors in insurance and other industries by using investment barriers and other hurdles to keep out foreign rivals in violation of its free-trade commitments.[3]
BEIJING (AFP) — China is loosing some of its attractiveness to foreign investors as rising costs are forcing some U.S. manufacturing firms to leave the country, the American Chamber of Commerce (AmCham) said Monday. More than two-thirds of AmCham's member companies surveyed in an annual white paper agreed that China was losing some of its competitive advantage in global markets due to rising costs.[4] The United States Chamber of Commerce says China has begun losing some of its appeal to foreign investors, with rising costs compelling some U.S. manufacturing firms to leave the country.[5]
"With slowing economic growth in the U.S., the focus needs to be on enhancing America's overall competitiveness rather than seeking defensive protectionist solutions," Zimmerman said. The groups said they will send a 40-member delegation to Washington in May to deliver the report to key lawmakers. Zimmerman said they hope to meet with the U.S. presidential candidates or their aides. The United States says its trade deficit with China in February was $18.4 billion — down 9.6 percent from the same month last year but the biggest U.S. gap with any country. [3] The White Paper also said the U.S. Congress should refrain from enacting legislation that attempts to change the terms of trade with China through currency appreciation to reduce U.S. trade deficit. The value of the yuan is not the primary cause of U.S. trade deficit with China and yuan appreciation would not help U.S. much, it said, adding that China will over time provide structural relief to its trade surplus through its economic rebalancing efforts.[2] The White Paper noted that China has in effect acquired part of the trade deficit formerly held by other Asian countries and as a result, imports from China are not really displacing U.S. goods.[2]
"The relationship stands on solid footing, with trade growing steadily to an all-time high and an unprecedented level of dialogue between the U.S. and Chinese governments," said James M. Zimmerman, AmCham-China Chairman. "But if we are to continue this positive momentum, growing protectionist tendencies in both countries must be resisted and openness reinforced." The 2008 White Paper outlines specific recommendations for the Chinese and U.S. governments on ways to strengthen their economic relationship and improve the business environment.[1] AmCham annual White Paper is the most authoritative analysis of the commercial environment and business trends in China. The policy recommendations in the paper for both the Chinese and U.S. governments form the lynchpin of AmCham's extensive policy advocacy activities, which aim to continually improve the business climate in China for American companies.[1] AmCham will discuss the issues contained in the White Paper in a series of briefings with Chinese Government officials in the coming weeks, and a member delegation will visit Washington, D.C., in mid-May to brief U.S. Government officials and lawmakers on Capitol Hill.[1]
Factors with the biggest financial impact last year included price pressures from competition and major customers, rising salaries and wages, changes in raw material prices, tax expenses and real estate cost inflation, the survey said. "For manufacturers, the seemingly endless supply of low-cost unskilled labour may be approaching its limits," Norwell Coquillard, chairman of AmCham in Shanghai, told reporters at a briefing to launch their annual white paper. "The competitive labour market poses difficulties for export-oriented manufacturers, especially in low-margin sectors such as toys, garments and shoes," and "they are looking to India, Vietnam, and other places," he said. [4] A joint survey by three U.S. chambers of commerce in China showed "a continued worsening of human-resource challenges as companies expand," said J. Norwell Coquillard, chairman of the American Chamber of Commerce in Shanghai.[6] Many companies believe China has made little progress in reducing violations of foreign trademarks, copyrights and other intellectual property rights, or IPR, said Norwell Coquillard, chairman of the American Chamber of Commerce in Shanghai.[3]
Beijing should "distance itself from regulations that inhibit competition" and repeal laws that limit foreign investment, said Harley Seyedin, chairman of the South China chamber. Other companies surveyed pointed to unclear regulations, bureaucracy and lack of transparency, according to the report. [3] "Instances of cooperation between China and U.S. far exceed instances of dispute." "An open U.S. and an open China will lead to sustained benefits for both U.S. companies and citizens back home," said Harley Seyedin, chairman of AmCham South China.[2] "AmCham's broad request is that the U.S. Government and Congress ensure that legislation is constructive and supports the goal of having an open, rule- based relationship with China," said AmCham South China Chairman Harley Seyedin.[1]
The U.S. Government priorities for China should include more resources supporting U.S. companies looking to capitalize on opportunities in the Chinese market; more resources to meet the projected increase in Chinese demand for business and tourist visas; and the facilitation of commercial trade through the ongoing review of export controls and license requirements to reflect market realities.[1] BEIJING (AP) — Three American business groups are appealing to Washington and Beijing to promote freer trade and reject protectionism amid slowing U.S. economic growth and a widening trade gap with China.[3] Rapid economic growth in China and other nations benefits Americans by adding to the growth of the global economy and creating greater demand for U.S. products and more jobs for U.S. workers.[2]
Domestic politics in the U.S. would not derail Sino-US trade relations, said James Zimmerman, chairman of AmCham China. [2] In the U.S., AmCham seeks active support from the executive and legislative branches in developing new policy foundations to address the changing needs of the trade relationship.[1]
The two countries should make "defending and preserving the openness of the trade relationship a core commitment", the White Paper said.[2] The backbone of the White Paper's analyses and conclusions is our annual Business Climate Survey, a compilation of data from the responses of more than 800 companies operating in China. The survey is a unique look into the thinking of the leaders of international business in this critical market.[1] Human resources constraints, inconsistent regulatory interpretation, unclear regulations, lack of transparency and bureaucracy are picked as the top five business challenges in China, according to the white paper. Companies still see China as a strategically important manufacturing base because of its domestic market potential, it said. It added that 74 percent of companies were either profitable or very profitable in China and 89 percent of respondents had an optimistic or slightly optimistic outlook for the next five years of doing business in the country.[4]
BEIJING -- U.S. companies in China say recruiting talented managers for their local operations has become their biggest business challenge, a finding that highlights the continuing gap between the skills taught in China's universities and what businesses here are actually looking for.[6]
"No matter what happens in the U.S. election and who wins, the relationship between U.S. and China is very, very important.[2]
In an annual report on competitiveness, the Chamber says rising costs have removed some of the competitive advantage China has enjoyed in recent years. [5] Chamber spokesman Norwell Coquillard says some U.S. manufacturers of low-cost items like shoes, toys and clothing are looking to move to cheaper countries like Vietnam and India.[5]
Critics of Beijing's trade record say currency controls and import barriers are partly to blame, and some American lawmakers are calling for punitive tariffs on Chinese goods. [3]
SOURCES
1. AmCham Issues Recommendations for Improving US-China Trade Relations
2. Stop blaming China for trade deficit - AmCham
3. The Associated Press: US groups in China call for freer trade
4. AFP: Costs driving US manufacturing firms out of China: AmCham
5. US says China losing competitive advantage
6. Free Preview - WSJ.com
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