U.S.-China 2022 Looks At Bilateral Economic Ties

A report, U.S.-China 2022: US-China Economic Relations in the Next Ten Years, issued on May 21 by the Hong Kong based China-United States Exchange Foundation takes a look at the history of China-U.S. economic relations and prospects for the next 10 years.

The foundation asked academics, business and political leaders from both countries to conduct a study of economic relations past and present. U.S.-China 2022 presents a frank and optimistic appraisal of opportunities and areas of contention in the relationship dating from 1978.The massive report contains a main section and a 19-part second section.

 In the Forward, C.H. Tung, Chairman of the China-United States Exchange Foundation wrote: 

“Indeed over the next 10 years, significant economic opportunities and millions of jobs can be created for the peoples of the two countries if the two countries cooperate together closely.”

U.S.-China 2022 first looks at how the U.S.- China relationship has evolved over the past 35 years and notes how interdependent both economies have become. It then focuses on the future to predict how both economies will develop. Points include:

  • China must change its model from export led to internal-demand led and from being the world’s factory to being the world’s market.
  • The U.S. must make adjustments to deal with unemployment and address trade deficits. At the same time the U.S. should benefit from its strengths in science technology and innovation, and favorable changes in its energy sourcing as shale oil and gas become readily available.

 The report was issued at an event in New York City at the Asia Society on May 21. Similar events were held on May 22 in Washington D.C., and May 23 in Chicago Illinois. The theme for these events were “US-China Relations in the Next Decade.” Speakers and panelists included Henry Kissinger, C.H. Tung Lawrence Lau, Michael Spence, Wang Chung Zheng and Victor Fung.

 View full report online: http://www.uschina2022.com/

Bloomberg-Businessweek story on launch: http://www.businessweek.com/articles/2013-05-23/the-powerful-people-arguing-for-u-dot-s-dot-china-free-trade