In a recent interview at the 2024 Boao Forum for Asia, former U.S. Secretary of Commerce Carlos M. Gutierrez emphasized the significance of China’s market on the global stage. “China is one of the most attractive markets in the world,” Gutierrez stated during his discussion with CGTN.
Gutierrez cautioned that if the United States decides to retreat from economic engagement with China, other countries are poised to step in and fill the void. “Other countries will fill the void if the U.S. leaves China, because China is a great market for companies,” he noted.
The former commerce secretary highlighted the potential consequences for U.S. businesses and the broader economy should the U.S. reduce its participation in China’s market. He underscored the importance of maintaining strong trade relationships to ensure competitiveness in the global market.
The Boao Forum for Asia, often regarded as Asia’s equivalent of the World Economic Forum, brings together leaders in government, business, and academia to discuss pressing economic and social issues. This year’s forum focuses on fostering collaboration and addressing challenges in a rapidly changing global landscape.
Gutierrez’s comments come at a time of heightened tensions and trade disputes between the U.S. and China. His insights reflect concerns within the business community about the potential impact of decoupling from one of the world’s largest economies.
“It’s essential for us to engage constructively with China,” Gutierrez added. “Disengagement would not only harm U.S. companies but also undermine global economic stability.”
As countries navigate the complexities of international trade, Gutierrez’s perspective serves as a reminder of the interconnectedness of today’s global economy and the importance of strategic partnerships.
Reference(s):
Gutierrez: Other countries will fill void if U.S. leaves China
cgtn.com
