China is hoping to find a recipe to revive global economic growth when it hosts its first G20 summit this week, but challenges are mounting in the form of domestic problems and regional tensions, with this week’s suicide car bombing at the Chinese embassy in Kyrgyzstan only adding to them.
And China is not taking any chances with the showpiece event – Hangzhou is in “virtual lockdown”.
While the headlines will focus on the larger event, the American business community will be keenly watching the bilateral meeting between President Obama and President Xi, according to John Frisbie, president of the US-China Business Council, who was speaking at an FCC lunch on September 1.
“The meeting is expected to continue discussions on the Bilateral Investment Treaty, industrial overcapacity, and challenges in cyberspace, as well as the uncertainty surrounding whether American companies will get access to China’s future growth.
“This is now the fourth ‘summit’ between Obama and Xi in a row which shows the importance of the relationship.” Frisbie said. “And it’s important that these meetings continue whoever comes into office in the US.”
It should also be noted that with only a few months remaining for Obama you might have expected China not to spend too much time with Obama. “However, in my discussions with senior officials there is the sense that ‘we can get get things done with someone we know’.”
Frisbie, who has been president of council since 2004, has close to 30 years of experience in business and government relations with China, including nearly 10 years living and working in Beijing.
To view the video of John Frisbie’s address please go to: