For more on the U.S.-China FDI Project, visit www.ncuscr.org/fdi.
After reaching a record $60 billion in 2016, foreign direct investment (FDI) flows between the United States and China have been squeezed into a diminished position by forces on both sides of the Pacific. In 2017, Chinese FDI in the United States dropped by more than one-third as Beijing re-imposed capital controls and Washington toughened screening of high-technology acquisitions; the value of newly announced transactions dropped by more than 90%. The outlook for 2018 is more uncertain still. President Trump has designated China a strategic competitor, a label not applied since 2000, and Washington is contemplating a disruptive array of more restrictive China policies to respond to national security concerns and the perceived lack of reciprocity, including greatly intensifying the investment screening process.
On April 10, the National Committee on U.S.-China Relations and Rhodium Group hosted an event in Washington, D.C., to release two studies that will shape the public debate on these urgent topics: Two-Way Street, the definitive analysis of U.S.-China FDI trends from 1990 through 2017; and New Neighbors, the seminal analysis of local impacts from Chinese FDI across every U.S. congressional district. With 12 months of brand new data and a number of recent policy developments in both countries, the report authors provided a thorough and timely presentation of research on U.S.-China FDI, followed by a panel discussion with American legal and business leaders.
This event was part of the U.S.-China FDI Project, a multi-year research initiative that aims to provide greater transparency on FDI flows between the United States and China.
Speakers and Panelists:
Amy Celico is a principal of Albright Stonebridge Group (ASG), and leads the firm’s China team in Washington, D.C. Drawing on more than 20 years of experience working on Chinese political and economic issues and developing U.S.-China trade policy positions, Ms. Celico develops and implements tailored strategies for clients, helping them deepen relationships with key stakeholders, succeed with M&A transactions, resolve complex problems, and build and expand their business.
Steven Foland is currently managing director and head of banking, Americas, for China International Capital Corporation (CICC). Steven was formerly head of the Asia Investment Banking Group and co‐head of Software Banking at Stifel, head of technology banking for non‐Japan Asia for Credit Suisse, and held various positions with Morgan Stanley in both New York and Hong Kong.
Report author Thilo Hanemann is director of Rhodium Group’s cross-border investment practice. His research assesses new trends in global trade and capital flows, related policy developments, and the political and commercial dynamics of specific transactions. He is also a senior policy fellow at the Mercator Institute for China Studies, Europe’s biggest China think tank, located in Berlin.
Kenneth Jarrett has been president of the American Chamber of Commerce in Shanghai since September 2013. Prior to that he was the Greater China Chairman for APCO Worldwide, a Washington-based public affairs consultancy from 2008 to 2013, and before that a U.S. diplomat from 1982 to 2008. During his 26-year diplomatic career, his postings included consul general in Shanghai, deputy consul General in Hong Kong, and director of Asian Affairs at the White House National Security Council.
Alan P. Larson is senior international policy advisor at Covington, where he provides clients with strategic advice, counseling and representation at the intersection of international business and public policy. A Ph.D. economist, decorated diplomat and non-lawyer, Mr. Larson advises clients on high stakes international challenges.
Stephen A. Orlins has been president of the National Committee since 2005. Prior to that, he was the managing director of Carlyle Asia and the chairman of the board of Taiwan Broadband Communications, one of Taiwan's largest cable television and high speed internet providers.
Report author Daniel H. Rosen is a founding partner of Rhodium Group and leads the firm’s work on China. Mr. Rosen has more than two decades of experience analyzing China’s economy, corporate sector and U.S.-China economic and commercial relations.