China has become an integral part of the growth plans of many US businesses, not just because of its sheer size but also due to its strategic importance.
“China is actually becoming the leader in many markets and technologies that we are interested in,” said Shafer, referring to digital platforms in China that help companies engage with customers.
Huff, a political veteran, made these remarks in an exclusive interview after China’s annual Central Economic Work Conference in Beijing. During the meeting China’s top leadership reviewed the country’s economic work in 2018, analyzed the current economic situation and arranged economic work for the coming year.
A former California State Senator, serving from 2008 to 2016, Huff said that periodic review of real-world results from a country’s national and international policies is a healthy and important procedure, especially when China enjoyed tremendous results in the past 30 years, transforming into the second-largest economy in the world.
“I applaud China looking at their economy, global conditions, and taking corrective actions to address some of the inadvertent imbalance,” Huff said. “As their economy slows, it is natural and healthy to make midcourse corrections to focus its growth in ways that best benefit its people, nation and the global economy.”
Huff focused on China’s new policies to turn current development pressure into an impetus for high-quality development, including speeding up the optimization, upgrading its economic structure, enhancing the capability of technological innovation, and deepening reform and opening-up.
He praised China’s plans to encourage new and high-tech businesses to drive the country’s economy.
China will continue to create more space for global companies to deepen cooperation in 2019, especially in the agriculture, high-tech and clean energy sectors, said Song Xianmao, deputy director-general of the Department of Foreign Trade at the Ministry of Commerce.