William Zarit, chairman of the American Chamber of Commerce, added that even though many companies are practicing "cautious optimism" toward China's steady economic growth, and the transition to a "new normal,” he finds "that the consumer sector seems to be the most optimistic; we find the technology and R&D intensive are probably the least optimis...
China is trying to move up the manufacturing value chain through its Made in China 2025 plan to boost manufacturing innovation and promote homegrown products. Western firms have been wary of this, contending that it reduces competitiveness of foreign firms in China by providing government assistance to Chinese firms.
While the US business community appears more confident about China's further opening-up to foreign investment, it is equally important that the country improves policy enforcement so that foreign companies can truly understand and benefit from China's reform and opening-up.
Zarit said U.S. companies do not want to see a trade war develop because it would obviously undermine their business in China.