We are pleased to invite you to our 18th Annual U.S.-China Trade Conference, which is to be held on Tuesday, November 7 and Wednesday, November 8 at the Chicago Marriott Downtown Magnificent Mile. This year, our focus is on trade strategy in the technology era.
Trade is a critical element in the prosperity of the global economy. China has risen to the second largest economy within four decades through trade because of its competitive advantage due to its huge population and low-cost labour pool. However, technology has recently taken over as the leading force in the economic growth of the world. B2B, B2C, mobile devices, cloud computing, social media, automation, digitalisation, co-working and co-living space are all buzz words of the last decade. Technology that at one point seemed to be futuristic is now part of our daily lives. Even GE, the industrial and consumer products giant, is now transforming to a digital industrial company with a focus on “Industrial Internet.” The impact of technology on business and trade is fundamental.
Technology facilitates global trade by increasing the flow of goods and capital. At the same time, technology is replacing manual labour and diminishing the importance of low cost labour. Technology requires investment and is largely accessible only to those with access to capital. This means that trade in the future will never be the same as in the past when less developed countries could emerge rapidly. Technology’s by-product is monopoly, and monopoly controls product life cycle and everything built around it. This further empowers those economically developed countries to reshape global trade strategies.
China, which has built its trade strategy on labour intensive industries, is under siege. Many of China’s manufacturing platforms are outdated, and its manufactured goods are facing obsolescence. At the same time, e-commerce has offered new global channels to companies that would otherwise have no access to foreign markets. With the recent signings of a large number of trade agreements, global competition is more intense and global trade is more complicated. This highly condensed, comprehensive conference is timely and will examine some of the crucial factors in competing globally. In this gathering, we will
- Examine the impact of technology on global manufacturing and trade
- Discuss strategy to source talents and products across the globe
- Evaluate new market channels
- Review China’s investments overseas
- Ascertain tax, regulations, IPR protection, trade policy, logistics and all relevant aspects of a successful trade strategy
In addition, the event will provide an excellent opportunity to network and build friendship with those who are involved in international trade and investment. We look forward to seeing you in November.