USCBC Hosts Forecast 2009 Conference, Reception

Member company executives gathered in Washington, DC, on January 29 to hear an expert lineup of speakers analyze the year ahead at the US-China Business Council's (USCBC) 28th annual Forecast Conference.

Estimating that China's gross domestic product growth in 2009 will likely slow to less than 7.5 percent, Deepak Bhattasali, lead economist, East Asia and the Pacific Region, World Bank, discussed the macroeconomic challenges and types of economic rebalancing that PRC economic planners face in 2009. He also forecast that the impacts of the PRC economic stimulus package would not become evident until the second half of the year.

Attendees heard remarks about the prospects for Congress to legislate on China in 2009. Mike Castellano, counsel and senior policy advisor, Officer of Senate Majority Leader Harry Reid, and Jason Kearns, majority trade counsel, House Committee on Ways and Means, indicated that their respective chambers would initially give the Obama administration an opportunity to take action on China in areas of perceived unfair trade practices but that Congress would move to draft legislation if the administration's efforts did not address congressional concerns.

USCBC Vice President of China Operations Bob Poole reported on the business operating challenges US companies would face in China in 2009, noting that additional details on the PRC stimulus package would likely emerge after the PRC National People's Congress convenes in March. Richard Sandor, chair and CEO of the Chicago Climate Exchange, spoke about China's prospects for managing its environmental challenges. He suggested that China's increased interest in emissions trading signals the central government's commitment to protecting the environment.

The conference concluded with a luncheon address by Kenneth Lieberthal, visiting fellow in Foreign Policy Studies at the Brookings Institution; former senior director for Asia, National Security Council; and professor at the University of Michigan. A former advisor on China to the Obama campaign, Lieberthal spoke about the Obama administration's likely policy toward China. He stressed the need for substantive, high-level dialogue to manage the significant level of distrust each side has for the other, to navigate the inevitable tensions and misunderstandings that occur when a new US administration takes office, and to address important global issues, such as the economic downturn and climate change, that are new to the bilateral relationship.

The evening before the conference, USCBC hosted a reception for member companies, US government and PRC Embassy officials, and China scholars. Attended by roughly 130 guests, the reception featured speeches by PRC Embassy Deputy Chief of Mission Xie Feng and US Representatives Rick Larsen (D-WA) and Mark Kirk (R-IL).

USCBC appreciates the support of its member companies and the speakers in making Forecast 2009 a success. Audio files of three Forecast presentations can be found at www.uschina.org.

Minister Xie Feng, deputy chief of mission, PRC Embassy; John Frisbie, USCBC president; and the Honorable Barbara Franklin, USCBC board member and president and CEO, Barbara Franklin Enterprises	Deepak Bhattasali, lead economist, East Asia & Pacific Region, the World Bank
US Rep. Rick Larsen (D-WA), co-chair of the US-China Working Group; Eddie Mak, director-general, Hong Kong Economic and Trade Office; and Donald Tong, Hong Kong commissioner for Economic and Trade Affairs	Jennifer H. Sanford, senior manager, International Trade & Corporate Policy, Cisco Systems, Inc.
USCBC Vice President Erin Ennis and Robert Zoglman and Jeanne T. Lopatto of Westinghouse Electric Co.	Richard Sandor, founder, chair, and CEO, Chicago Climate Exchange
US Rep. Mark Kirk (R-IL), co-chair of the US-China Working Group, and Steve Orlins, president of the National Committee on US-China Relations	Kenneth Lieberthal, visiting fellow in Foreign Policy Studies, the Brookings Institution, and professor at the University of Michigan

Photos by sardari.com