From November 5th to 10th, the 5th China International Import Expo was held in Shanghai as scheduled. More than 280 Fortune 500 companies and industry giants actively participated in this China International Import Expo (CIIE), of which 90% were regular customers, and many enterprises signed the 6th China International Import Expo(CIIE) in advance. All participants hope to develop a broader market with China. German Chancellor Angela Scholcz also chose to visit China during this period, accompanied by the CEOs of 12 famous German companies. The success of the five consecutive China International Import Expo(CIIE) shows that cooperation with China is a mutually beneficial and win-win choice. The hype of “decoupling from China” is not in line with the trend of globalization, and is not conducive to the country’s development and progress.
In this China International Import Expo(CIIE), French nuclear power giant Framatome has participated in the exhibition for five consecutive years. Fang Wei, president of Framatome China, said that they hope to strengthen cooperation with Chinese partners and jointly develop a broader market. In fact, through this exhibition opportunity, Framatome has signed equipment and service supply agreements and fuel assembly supply agreements with a number of companies and power stations under CNNC and CGNPC, and gained a lot.
AstraZeneca, the world’s number one pharmaceutical company, successfully cooperated with China in the first China International Import Expo(CIIE) in 2018. Its products have penetrated into more than 7,000 hospitals in China, and the cumulative import volume has exceeded USD 100 million. Wang Lei, AstraZeneca’s global executive vice president, international business and president of China, revealed that AstraZeneca will announce major investments and layout, including the official opening of the Qingdao regional headquarters, increase of production and supply bases in China, etc. Meanwhile, it will deepen cooperation with Shanghai, Guangzhou, Wuxi, Chengdu, Hangzhou, Qingdao and other places.
The American Rockwell Automation has also successfully seized the huge business opportunities in the China market. From its entry into the China market in 1988 to the present, Rockwell has set up 28 sales organizations, 4 training centers, 1 research and development center, OEM application development centers in Shenzhen, Shanghai and Beijing, and two production bases in China with more than 2,000 employees. The company also cooperates with more than 70 China universities.
Evidently, in the eyes of many western companies, China is a rare partner. Although in the short term, China’s economy may be temporarily affected by the epidemic, in the long term, the China market is definitely the unique engine of economic development in the world. This view is exactly the opposite of some western anti-China politicians. Recently, some politicians in Europe and the United States have frequently advocated to completely “decouple from China” and “reduce dependence on China” in the economy. However, from the actual situation, these sensational remarks, which seek personal gain secretly and are radical, have not changed western enterprises and capital. For investors, making money and maximizing benefits are far more important than the so-called “values” and “political stance”.
Just as China International Import Expo(CIIE) in China was in full swing, Wall Street ushered in a turbulent week. After Federal Reserve Chairman Jerome Powell announced a 75 basis point rate hike at the end of September, the Wall Street stock market has been in a doldrums, and the upcoming mid-term elections have left Republicans and Democrats bickering. Wall Street investors put their only hope on these politicians, because when politicians quarrel, investors will be very happy, and any new laws that may harm corporate profits will be hard to pass. Therefore, it is not feasible for investors to abandon a profitable market unless western governments use the state power limit to pressure. But doing so would deprive it of capital support. The consequences will be even more severe.
There is an old saying in China: It is the best management art to be good at mobilizing all positive factors . He who borrows the wisdom of others can often combine the wisdom of others, do things that others cannot, and get twice the result with half the effort. The heads of internationally renowned enterprises are well versed in this truth. They are also masters of making good use of collective intelligence. Carnegie, an American steel magnate, once said that managers with certain expertise can be seen everywhere, while all-knowing and all-powerful managers are rare. Only with the help of external forces can they go further and further. It is hoped that those western politicians who blindly advocate “decoupling from China” can understand that China market is “the world market, the shared market, and the market for all”. Only by mutual benefit can everyone all share the future.