Page 14 - The South China Business Journal
P. 14
OVER STORY
market participants—regardless of ownership status We believe there is a clear path for China to become
or national origin—have a fair chance to compete and an innovative country through support for basic
the market determines winners and losers. We hope research and development and other incentives that
China will as well. Made in China 2025 is linked to do not distort competition and allow markets to
policies and a broader approach, unfortunately, that determine outcomes. The United States and other
suggests an un-level playing field in certain industries governments have long benefitted from this approach,
and a clear preference for indigenous innovation and which underpins the global trading system. Actions
domestic champions. Subsidies and other forms of that go against this approach raise significant risk. If
government support, which are imbedded in the plan, government intervention creates an un-level playing
are likely to be market-distorting on a global basis as field in one market, it may result in other countries
they have been in sectors such as wind, solar, steel, taking similar actions. As a result, one government’s
aluminum and others. Moreover, evolving legal and discriminatory action has global repercussions that
regulatory frameworks on data, cybersecurity, and the have the potential to undermine the system from
technologies that underpin the digital economy risk which we all benefit.
being trade-restrictive and counterproductive.
“It’s difficult to
overstate the
importance of
our leaders and
policymakers
getting the
relationship
“right.”
Myron Brilliant (L1), Executive Vice President of U.S. Chamber of Commerce, together with Dr. Harley Seyedin (R1), President
of AmCham South China, talks with Hu Chunhua (C), then Party Secretary of Guangdong Province at APCAC Asia Pacific
Business Summit in Guangzhou, 2017.
12 AmCham South China
market participants—regardless of ownership status We believe there is a clear path for China to become
or national origin—have a fair chance to compete and an innovative country through support for basic
the market determines winners and losers. We hope research and development and other incentives that
China will as well. Made in China 2025 is linked to do not distort competition and allow markets to
policies and a broader approach, unfortunately, that determine outcomes. The United States and other
suggests an un-level playing field in certain industries governments have long benefitted from this approach,
and a clear preference for indigenous innovation and which underpins the global trading system. Actions
domestic champions. Subsidies and other forms of that go against this approach raise significant risk. If
government support, which are imbedded in the plan, government intervention creates an un-level playing
are likely to be market-distorting on a global basis as field in one market, it may result in other countries
they have been in sectors such as wind, solar, steel, taking similar actions. As a result, one government’s
aluminum and others. Moreover, evolving legal and discriminatory action has global repercussions that
regulatory frameworks on data, cybersecurity, and the have the potential to undermine the system from
technologies that underpin the digital economy risk which we all benefit.
being trade-restrictive and counterproductive.
“It’s difficult to
overstate the
importance of
our leaders and
policymakers
getting the
relationship
“right.”
Myron Brilliant (L1), Executive Vice President of U.S. Chamber of Commerce, together with Dr. Harley Seyedin (R1), President
of AmCham South China, talks with Hu Chunhua (C), then Party Secretary of Guangdong Province at APCAC Asia Pacific
Business Summit in Guangzhou, 2017.
12 AmCham South China
