Blinken China Visit Draws Scrutiny from the Business World
Shawn Xiang Yue, the producer of Beijing-based Goshfilm, has a presence in both China and the United States through his subsidiary Bamboo Curtain, established in L.A. in 2021 with the aim of increasing China-Hollywood co-productions.
He mentions the benefits of having a subsidiary in the U.S., such as having the ability to hire American workers and utilize the established Hollywood infrastructure. However, tensions between the U.S. and China led to the layoff of almost all staff in L.A. and New York.
Due to the current uncertainty, Yue stated that as a businessperson, he is uncertain about whether to invest or downsize.
The individual is paying close attention to Antony Blinken, the US Secretary of State, during his upcoming two-day trip to China. Blinken is scheduled to have a meeting with the Chinese Foreign Minister, Qin Gang, and discuss various topics.
In 2022, the relationship between the two countries was challenging due to events such as Russia’s conflict in Ukraine, China’s strict COVID-19 measures disrupting worldwide supply chains, and heightened tensions over Taiwan. Both nations are hoping the other will make the first move to resolve these issues.
Scott Kennedy, a specialist in Chinese business and economics at the Center for Strategic and International Studies, stated, “Both Beijing and Washington hope to establish a solid foundation for their relationship, reducing the likelihood of open conflict.”
China is also seeking several actions from the US, including the removal of tariffs on Chinese products and lifting export controls to allow the purchase of advanced American semiconductors. These matters are likely to be brought up during Blinken’s visit.
According to Xu Qinduo of the Pangoal Institution in Beijing, many Chinese individuals believe that the United States is making efforts to retain its dominant position and there is a sense of unease that China is making rapid progress. This, he claims, is perceived as an attempt by the US to contain China’s growth.
Nevertheless, Xu believes that the US will not be successful in its efforts, especially now that China has lifted COVID restrictions and its economy is thriving with much potential for economic growth and investment.
Movie producer, Yue, is considering resuming his US operations but is concerned about the potential restrictions on sales of high-tech equipment and the possible ban on Chinese citizens from purchasing land in Texas. He wishes for clarity from US officials on their stance on Chinese investment.
An analyst named Kennedy raises the question of whether the US and China can manage to compete in some areas and collaborate in others, such as in addressing common challenges like climate and public health. However, in recent times, it has become difficult to distinguish politics from business.
