Tim Stratford: Departure of U.S. companies from China will hurt U.S. economy
U.S. President Donald Trump tweeted Friday that he "hereby ordered" U.S. companies to explore relocating their operations out of China.
What consequences will American businesses face if they upend their supply chains and stop doing business with China? Will they be willing to relocate? How does he view the upcoming talks between the U.S. and China business representatives in September? What is his view on the escalating trade tensions?
In our exclusive interview with Timothy Stratford, the Chairman of the American Chamber of Commerce, also the Managing Partner of the Convington & Burling LLP based in Beijing, he said it’s not practical to move U.S. companies out of China as it will cause severe damage to the U.S. economy. China has been capable of manufacturing high-tech items, and still maintain strong position as a manufacturing base. Chinese market is irreplaceable with such huge capacity.