Stable China-US relations behind success story of Chinese-invested firms in US 【Voice_over】 Wanxiang America Corporation, based in Elgin, Illinois, near Chicago, is an incredible success story. In 1994, Pin Ni founded the company with an initial 20,000-dollar investment. Since then, it has grown to become a four-billion-dollar conglomerate with interests in auto parts, clean energy, private equity and real estate. Over the years, Pin Ni has watched the ebb and flow of relations between the U.S. and China. A buzzword among U.S. policymakers in recent months is that of ‘de-risking’ – a push to mitigate the vulnerabilities posed by shaky economic ties between the U.S. and China. The move appears to be a step away from decoupling, implying efforts to curb risks while avoiding a clean break. But Pin Ni is among those who believe, in the end, the markets will decide. 【Sound_bite】 Pin Ni, President, Wanxiang America Corporation: “I don’t think anybody can stop globalization. Many people can try to slow the down. But at the end, the globalization is going to move forward. Because the anti-globalization, the cost will be too high.” 【Sound_bite】 Dan Williams, Reporter: “Despite recent tensions, Chinese companies still invested more than 28 billion dollars into the U.S. last year. Although that is down from the high of nearly 39 billion dollars in 2019, it’s about double the amount Chinese firms invested in the U.S. in 2015.” 【Voice_over】 Added to that, the two-way trade between the two countries last year was worth almost seven hundred billion dollars, a record high. 【Sound_bite】 Pin Ni, President, Wanxiang America Corporation: “I do have a hope. The hope is that the leaders on both side can be rational, can be professional, can be open minded, can focus on the people’s benefit from these two countries. If they do that, I’m confident both sides can find a way to move forward.” 【Voice_over】 There will be many business leaders around the world who will be watching the meeting between the U.S. and Chinese presidents very closely.
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