Business talks to strengthen economic partnership with China ASEAN

China Business Meeting to Strengthen Economic Partnership with ASEAN

A large-scale exhibition-and-conference to start revitalizing trade and investment with ASEAN = Association of Southeast Asian countries has begun, and China has strengthened its economic partnership with Southeast Asia as trade disputes between the United States and China have prolonged. Accelerating.

China ASEAN Expo has been held in Nanning, South for 21 days to 4 days. The largest number of companies to date, more than 2,800, are exhibiting.

At the opening ceremony, Deputy Prime Minister Hansheng called for strengthening trade and investment, stating, “To create a beautiful and prosperous future where we can deepen cooperation and build a colorful belt and road”.

In addition, the deputy prime ministers of each country, who greeted them, expressed their expectations for supporting infrastructure construction from China.

At the venue, there were exhibition halls in various countries, and in the corner of the Chinese manufacturing industry, there were voices concerned about the impact of trade friction between the United States and China. Of these, Chinese companies that manufacture equipment that suppresses camera shake account for 10% of sales to the US, and the person in charge said, “The cost to the US has increased due to the effects of tariffs. I want to strengthen sales to Southeast Asia in the future. "

In addition, the booth of an industrial complex that China jointly created with Malaysia will introduce successful examples of the manufacturing of tires by Chinese companies that have entered the country. China is accelerating its efforts to strengthen economic partnerships with Southeast Asia.

Strengthening economic ties with China Southeast Asia

China has been strengthening its economic ties with Southeast Asia in the face of prolonged trade friction with the United States.

According to China's trade statistics, the total trade combined with exports and imports between China and ASEAN = Southeast Asian Union from January to last month was $ 401.6 billion, an increase of 5.6% from the same period last year.

At the same time, the amount of trade with the US dropped by nearly 14%. As a result, ASEAN has reversed the United States that was second place last year as a trading partner in China.

In addition, some Chinese companies are moving their manufacturing base for exports to the US to Southeast Asia. In fact, direct investment from China to Thailand has increased 5 times compared to the same period last year, and investment from China to Vietnam has also increased 3.6 times during the six months to June.

Thus, the prolonged conflict over trade between the United States and China has also brought about changes in the industrial structure of Asia.

ASEAN Voices of China's investment expansion

Many delegates from the ASEAN delegation participating in the China ASEAN Expo expect that China will expand their investment in Southeast Asia.

Among them, Philippine President Lambino advised NHK in an interview: “We see the trade war between China and the United States as a positive move for ASEAN. Many Chinese factories can move to other countries. I think that the future will be in the Southeast Asian region, ”he said, and expressed his expectation for the expansion of investment by China accompanying the relocation of factories.

In addition, one of the delegations in Myanmar said, “I want to expect more projects in the Belt and One Road”, but also said I would like to expect investment from Japan as well as China.

Not stand the prospect of Sino-US confrontation resolved

Since July last year, the United States and China have been repeating the exchange of adding high tariffs to their imports for over a year.

In addition, the United States will have additional tariffs on Chinese products on the 15th of next month, and both the US and China are planning to raise further tariffs in December. It can also affect consumers.

The United States and China will negotiate vice-ministerial trade in Washington for two days until the 20th, and plan to hold ministerial-level negotiations early next month.

Next year, President Trump, who will refrain from the presidential election, has shown the possibility of considering a tentative agreement that prioritized the Chinese import expansion of American soybeans, and the Chinese side also showed a positive attitude toward the expansion of imports of agricultural products. It was.

However, at the press conference on the 20th, President Trump turned around, referring to a comprehensive agreement including the issue of intellectual property rights infringement by China, and the negotiation attitude has changed again.

Furthermore, in the US parliament and the economic world, hard-liners against China are strongly repelled by the tentative agreement, and the Chinese side has not lost its attitude of making concessions on issues related to the system, and the conflict between the United States and China will be resolved. prospect has followed the situation that does not stand.