US President Joe Biden on Thursday highlighted the strength of the US economy and encouraged 19 Asia-Pacific economies to partner with the US. This move was matched by China’s leader at the same gathering of Asian leaders and powerful CEOs. The business world is asking: why not both?
In a speech to the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, President Biden praised the US economy for its resilience and pointed out that now is the time to take advantage of the opportunity to create even more growth. He said, “The US economy is strong, and we are determined to keep it that way. We should use this moment to make sure all of our economies benefit from the global economy and build a more prosperous future for all.”
The US President’s remarks were echoed by China’s leader, who also highlighted the strength of the Chinese economy. He said that China is committed to working with other countries to create a more open regional economic system and to promote regional economic integration. He added that the Chinese government is committed to providing more support for the development of small- and medium-sized enterprises in the region.
The business community has responded positively to the two leaders’ statements. They say that both the US and China have strong, resilient economies and should work together to create shared economic growth. They argue that both countries should use their economic power to create jobs, promote investment, and drive innovation across the region.
Business leaders also point out that both countries have the opportunity to benefit from each other’s strengths. The US is a leader in technological innovation and China is a leader in manufacturing. By working together, both countries can make use of each other’s strengths to create economic benefits for the region.
In addition, business leaders say that both countries should work together to tackle the region’s most pressing challenges, including climate change, poverty, and inequality. They argue that by working together, both countries can create shared solutions to these challenges and help create a more prosperous, sustainable, and inclusive future for the region.
Overall, the business community believes that the US and China should work together to create shared economic growth and tackle regional challenges. They argue that both countries can benefit from each other’s strengths and create a more prosperous future for the region. It’s clear that the business world is asking: why not both?
