Meeting addresses challenges posed by tariffs and calls for collaboration
Business leaders from the United States and China gathered in Los Angeles for the annual meeting of the China General Chamber of Commerce-USA, or CGCC, where the importance of US-China trade relations was stressed.
Participants at Friday's meeting addressed the challenges posed by tariffs and called for mutually beneficial cooperation between the world's two largest economies.
Mario Cordero, CEO of the Port of Long Beach and one of the keynote speakers, emphasized the importance of US-China trade relations.
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"We do have challenges, no doubt. But today, I think the challenges are big challenges," Cordero said, referring to the negative impact of tariffs on the shipping industry.
"I don't want to get too political here or spend too much time on that, but why I am here is to reconfirm how important the trade relationship is," he said. "I want to confirm how important it is for us to collaborate and partner with our ports in China … because together, that is how we make our respective economies great."
He also outlined the port's green initiatives, including a $4.5 billion project aimed at generating 25 gigawatts of wind energy by 2045.
Cordero lauded the Chinese government and sister ports in China for their commitment to decarbonization. He also highlighted the significant reduction in harmful emissions at Long Beach port since 2005 and credited the collaboration of stakeholders, including China.
Another keynote speaker, Bob Weis, former president of Walt Disney Imagineering, shared his experience leading the design of Shanghai Disneyland.
"It was essential that we tap into Chinese talent," Weis told China Daily.
In his book, Dream Chasing: My Four Decades of Success and Failure with Walt Disney Imagineering, Weis acknowledged the significance of Disney's collaboration with the Chinese market. He emphasized the importance of incorporating Chinese architects, engineers, artists, writers and storytellers to tailor Disney's offerings to the Chinese audience.
"The success of Shanghai Disneyland showed that working together creatively can overcome geographical boundaries," Weis said.
Chinese enterprises have also actively contributed to local communities, particularly in times of crisis. During the Los Angeles wildfires, many Chinese businesses stepped forward, donating time, resources and financial support.
CGCC member Bank of China and associated member East West Bank Foundation contributed $10,000 and $250,000, respectively, to the Pasadena Community Foundation's Eaton Fire Relief and Recovery Fund to aid long-term recovery efforts.
Ye Chun, president of CGCC-LA, acknowledged the complexities of the current business environment and reaffirmed the chamber's commitment to supporting its members.
"The past year presented an uneven landscape. Looking ahead, we anticipate an increasingly complicated business environment," Ye said. "With our role as a platform for information sharing, mutual support and effective communication, we are committed to further enhancing bilateral trade and people-to-people exchanges."
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Guo Shaochun, the Chinese consul general in Los Angeles, emphasized the fundamental role of economic and trade cooperation.
"The trade between our two countries is an important part of China-US relations," Guo said, noting that it is mutually beneficial, based on market rule and demand, and it is significant for the global economy.
Guo said that bilateral trade has significantly contributed to the US economy by creating 2.6 million jobs, reducing US manufacturing costs by 15-20 percent, and increasing the annual purchasing power of US families by $850.
He said more than 7,000 Chinese companies have invested in the US, with CGCC members contributing approximately $140 billion, while more than 70,000 US enterprises have established a presence in China, with profitable returns.
