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On the latest trade frictions between China and the US, what's the reaction of the American business community in China? Reporter Cui Hui'ao spoke to the President of the American Chamber of Commerce in South China.
CUI HUI'AO CGTN REPORTER "As the President of the American Chamber of Commerce in South China, what are some of the visible impacts you are seeing from the latest trade frictions between the two countries? Who are getting hurt by this?"
HARLEY SEYEDIN, PRESIDENT AMERICAN CHAMBER OF COMMERCE IN SOUTH CHINA "Well, except for people being worried, not knowing what is really going to happen next, the facts are not really known. We've talked to many of our members. They are standing by, they are watching. They don't know how it will affect their businesses. They really don't know what to order, what not to order. They are kind of worried about the future and of course being worried is not very good for business, either way."
CUI HUI'AO CGTN REPORTER "So the short-term effect remains to be seen, but what about long-term effects?"
HARLEY SEYEDIN, PRESIDENT AMERICAN CHAMBER OF COMMERCE IN SOUTH CHINA "Well, I'm always worried about the long-term effects. The short-term effects, of course, can be addressed. People always find ways to deal with alternative methods of purchasing the products they need. The long-term effects are what I'm really worried about because if it goes for a long time and the frictions last, then both sides, the businesses of both sides are going to start to look for alternative sources of procurement. So if businesses both from US and China begin to look for other sources, for their products. That's not good for the future. They will have serious long-lasting effects on the supply chain, on the shipping routes available to your products in different countries. So of course, we're very concerned about that."
CUI HUI'AO CGTN REPORTER "President Trump says they want to close the US trade deficit with China, but China is saying he's looking at completely the wrong way. So what do you take on this debate?"
HARLEY SEYEDIN, PRESIDENT AMERICAN CHAMBER OF COMMERCE IN SOUTH CHINA "Well, this has a lot to do with the state of development China is at now. At this moment, China is still producing a lot of goods for the US market. At the same time, you look a massive amount of products produced by American companies in China. And they are actually sold in China, and the benefits go back home, and create jobs in headquarters in the cities where those companies are located."
CUI HUI'AO CGTN REPORTER "Help us understand what your chamber does, form my understanding, helps or facilitates companies doing business in South China. So how vibrant of a community is it, how big of the scale are we talking about?"
HARLEY SEYEDIN, PRESIDENT AMERICAN CHAMBER OF COMMERCE IN SOUTH CHINA "Well, we represent some 2300 members. Our members account for nearly 40% of all US-China business trade and investment. And of course these companies have invested billions of dollars in the Chinese market, and they have contributed a great deal in development of China in the past 25 years. They've been profitable. They have been very successful, and they continue to reinvest in this market. And the reality is China just announced they reduced the negative list, down to 48 items, that are not a tremendous amount of markets that are not open to for our investment, and what we do, of course, we do want to see all of these 48 items go away and China be a wide open market."