Even as the U.S. government extended social distancing guidelines through the end of April, China is announcing the success of its “back to work” campaign now that aggressive measures have contained the spread of the COVID-19 virus. Nearly 99% of major industrial companies are back in operations, with 90% of workers again on the job, according to government statements. More than 75% of small and medium businesses have also restarted operations.
The safety of our staff, clients and their families is the top priority amid the coronavirus. During this time, we are offering flexibility to our staff to work from home if they are able to do so. We are also shipping thousands of supplies to our staff in China. For our staff who can work remotely, we are conducting trainings intended to keep skills sharp.
These remarks are selected from an address that will be delivered by MarcumBP's Co-Managing Partner, Drew Bernstein, at the Camphor Tree Forum at Harvard University on Saturday, September 14th, 2019.
Fraser Howie is one of the most astute observers of China’s banking and financial systems, and his book Red Capitalism: The Fragile Foundations of China’s Extraordinary Rise is required reading for anyone who wants to understand China’s transformation from an impoverished backwater into a powerhouse of authoritarian capitalism. Fraser has spent over two decades trading, analyzing, and writing about Asian stock markets and has worked for companies including Bankers Trust, Morgan Stanley, CICC, and CLSA. He is a regular commentator on Asian financial markets and monetary policy for international print and television outlets.
MarcumBP’s Drew Bernstein caught up with Fraser recently to understand his views on how the economic and business environment is changing and the challenges that Chinese policymakers face.
I thought it would be useful to share key takeaways from the recent Bloomberg Invest Asia conference, an invitation only event for international business leaders to exchange ideas regarding China’s role in the investment community.
Drew Bernstein interviews long-time China expert James McGregor, the author of One Billion Customers - Lessons from the Frontlines of Doing Business in China, on the challenges that multinationals face doing business in China today and the state of U.S.-China trade relations. Currently the Chairman of APCO Worldwide, Greater China, McGregor has spent three decades in the region as a journalist, venture investor, author, and now public affairs consultant to major corporations with operations in China.
Judging from the headlines, you might think Chinese technology companies are on the ropes. The Justice Department has been investigating and indicting telecom giants Huawei and ZTE. Rising U.S. tariffs threaten to displace China’s dominance in the global supply chain for electronics. And Chinese internet Goliaths Alibaba Group (NYSE:BABA) and Tencent saw their market values shaved in 2018 by investor jitters over government policies and a softening economy.
If you only read the newspaper or watched TV, one might think that the economic relationship between China and America was on the verge of an irreparable split. But as I shared in a recent interview on Bloomberg television, I actually remain fairly optimistic that, despite the many bumps in the road, the world’s two biggest economies will continue to find ways to work together and that deals will get done.
Following the Party Congress, Is China on Path to Global Ascendancy or a Nasty Bust?