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Allen I-Chun Wu, Global Vice Chairman of Asia Pacific CEO Association (APCEO), addresses the Opening Ceremony of the 9th China Henan International Investment Trade Fair & the 3rd World Emerging Industries Summit (WEIS 2015)

Allen I-Chun Wu, Global Vice Chairman of Asia Pacific CEO Association (APCEO),

addresses the Opening Ceremony of the 9th China Henan International Investment Trade Fair

& the 3rd World Emerging Industries Summit (WEIS 2015)

 

U.S. China Cross-Border Cooperation in New Emerging Industries - Building on Common Ground towards A Common Prosperity

 

Honorable Secretary Guo, Governor Xie, President Jiang, Friends, Ladies and Gentlemen:

 

On behalf of APCEO, it is my great honor to extend my warmest greetings and welcome to all of you who are participating The 3rd World Emerging Industries Summit. We are now in the age of the Third Worldwide Industry Revolution facing many unprecedented challenges. Not just in where the traditional or emerging industries will go and settle, but how to deal with more complicated and difficult environments involving economic and political issues. As Zhengzhou has already been well equipped as the leading hub for industries, commerce, innovation and culture with the largest Chinese population in China, its growth and power are unlimited.

 

Today my speech will be focusing on:

"U.S. China Cross-Border Cooperation in New Emerging Industries - Building on Common Ground towards A Common Prosperity"

The U.S. has been rapidly developing Emerging Industries including Alternative Energy, Advanced Materials, Industry Information, New Intelligent Manufacturing, Modern Logistics, Biopharming and Energy Conservation and Environmental Protection for the past decade.

 

In the era of globalization, the U.S., as the largest Developed Country, faced many challenges including keeping up her economic growth and preventing the losing of domestic production facilities and local jobs. The U.S. has already implemented new policies on promoting the new technologies, new alternative energy and many more emerging industries together with the traditional industries so that the U.S. Businesses can continuously lead and control the majority manufacturing worldwide. Both U.S. Government and Businesses are working together on building modern production facilities and keeping "core technologies and know-hows" in the U.S. for a long run. The Federal and local governments have also commenced many new public projects building up more intelligence base infrastructures thus creating more new jobs. Presently the unemployment rate has been effectively reduced from 9.8% of 2010 high to 5.5% in March this year.

China, as the largest Developing Country, has been the largest world factory and is about to be the largest world market which also faced many issues and challenges in stabilizing its weaken economic conditions and growth. Yet the global common concerns lead two giant countries work together for joint future cooperation and mutual prosperity.

 

The new international challenges in economic and political arena are no longer periodical but structural in nature and mostly unprecedented or unforeseen. From 2008 World Financial Crisis to recent Global Capital Outflow (e.g. $3,924 Billions outflow for the second half of 2014 back to Developed Countries for safety and growth reasons) from the 15 largest emerging economies pose new and severe dangers than ever before directly threaten the stability of world economics. China,Thailand and Turkey are the highest indebted countries among those 15 largest emerging economies.

 

Those global common concerns include 1. Falling Middle Class and Declining Small Business,2. High Unemployment and Slow Transforming Skills for New Jobs, 3. Poor against Rich, 4. Trade Wars, 5. Terrorist Wars and recent political risks in Russia and Middle East.

 

Facing and solving these unforeseen challenges, the U.S. and China will continue their joint cooperation to build common prosperity.

 

Strong leaderships from governmental levels to private sectors are highly demanded in China. Lessens to learn from the U.S. include its sound policy and systems, well-developed technologies, matured market, fair competition, outstanding management teams, and best high education system. Chinese business sectors need to learn corporate internationalization, industry transforming and upgrading, new business models, international joint ventures, and international market rules and regulations.

 

China also needs to learn how to adjust herself from the role of world factory to world market. Future manufacturing and distribution will be combined under new business models integrating with new e-commence business and high tech. Through high tech, the manufacturing sectors will increase their production capacity up to 15 times than before with costs saving over 25%. New business models will combine different kinds of businesses working together under one platform which cover 1. Merchandise Flow, 2. Business Flow,3. Financing Flow,4 Distribution and 5. Logistic Flow.

Thus, while all businesses are adjusting themselves in facing with the new turbulence or conflicts in economical, financial and political areas, the local governments and businesses in China should understand and follow the WTO rules and other international market rules, continue to build better and convenient business environment to attract foreign investments and expertise, build the first class infrastructure, support small business grow and development, improve middle class wealth, increase innovation and new skills.

On behalf of APCEO, please accept my best wishes for a fruitful Summit and continued success. Thank you.

 

 

Allen I-Chun Wu, 

Global Vice chairman of APCEO Worldwide

President of Asian American Republican National Federation