China seeks to reshape global image with import exposure
China seeks to reshape global image with import exposure
Faced with a blizzard of commercial complaints, China is launching an import fair "open for business" organized by President Xi Jinping to re-mark it as a welcoming market and a positive global force.
More than 3,000 companies from 130 countries that sell from Egyptian dates to factory machinery attend the China International Import Expo, which will open on Monday at the Shanghai Mall. Your VIP guest list includes the prime ministers and other leaders of Russia, Pakistan and Vietnam.
The United States, fighting a tariff war with Beijing, has no plans to send a high-level envoy.
The Xi government is emphasizing the promise of China's growing consumer market to help resolve complaints. Beijing abuses the global trade system by giving up promises to open its industries.
"This says, look, we are not a global parasite that is creating massive deficits, we are buying products," said Kerry Brown, a specialist in Chinese politics at King's College London.
The event is also part of efforts to develop a commercial network centered on China and increase its influence in a global system dominated by the West.
President Donald Trump and its "American for the first time" commercial policies that threaten to raise import barriers for the world's largest consumer market.
Exporters, especially developing countries, want closer relations with China to help "isolate themselves from what is happening with Trump and the US," said Gareth Leather of Capital Economics.
China has cut tariffs and announced other measures this year to boost imports, which increased 15.9 percent in 2017 to $ 1.8 trillion. But none addresses the US complaints about its technology policy that prompted Trump to impose tariffs of up to 25 percent on Chinese imports of $ 250 billion. Beijing has responded with tariff increases of $ 110 billion of US imports.
Chinese leaders have rejected the pressure to reverse plans such as "Made in China 2025," which calls for state-led creation of global champions in robotics and other fields, ambitions that some US officials fear will undermine US industrial leadership. UU
To keep the economy growing, China needs to nourish its consumer market and that requires more imports.
But foreign companies say regulators are still trying to get them out of promising industries and face pressures to deliver the technology.
"The Shanghai exhibition" will have little consequence for the United States and other companies, unless their show is accompanied by significant and measurable changes in China's business practices, "said Kenneth Jarrett, president of the United States Chamber of Commerce. United in Shanghai, in an email.
Some companies may get a brief sales push, "but its long-term impact will be defined by China's willingness to put an end to many of its unfair business practices," Jarrett said.
Europe, Japan and other trading partners have been leery of Trump's tactics, but echo the complaints of the United States.
They say that Beijing unduly hinders access to the finance, logistics and other services industries. European leaders are frustrated that Beijing bans foreign acquisitions of most assets, while its own companies are on a global shopping spree.
Writing in a Chinese business magazine, the ambassadors of France and Germany in Beijing called for changes that include the end of requirements for foreign companies to operate joint ventures with state partners. They called for a revision of the rules that say they prevent companies from benefiting and protecting their technology.
"We encourage China to address these problems through concrete and systematic measures that go beyond tariff adjustments," wrote ambassadors Jean-Maurice Ripert of France and Clemens von Goetze of Germany in the Caixin magazine.
China is already the number one trading partner for all its Asian neighbors, although a large part of the iron ore, industrial components and other goods it purchases are converted into smart phones, televisions and other goods for export.
The tariff cuts announced last year were aimed at providing Chinese consumers with better access to foreign products. Chinese leaders emphasize that they include anti-cancer drugs and other medical products. But many are special products, such as high-end baby strollers, avocados and mineral water that do not compete with Chinese suppliers.
The Shanghai exhibition also gives Beijing the opportunity to repair its image after complaints about its "Belt and Road" initiative to expand trade by building ports, railroads and other infrastructure in a vast arch of 65 countries from the South Pacific through Asia to Africa and Europe. .
Governments, including Nepal, Sri Lanka and Thailand, have ruled out or reduced projects due to high costs or complaints. Very little work goes to local businesses. Sri Lanka, Kenya and other nations have had problems paying Chinese loans.
"It has become too associated with debt and that China gets what it wants," Brown said. "They are trying to convey this more positive message that China is open for business."
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China International Import Expo: https://www.ciie.org/zbh/en/
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