he produces a wealth of useful resources related to china, in the global investment tracker and the china facebook. and melanie heart is a senior fellow and director of chinese policy of america promise. investing comprehensive u.s. strategy for china and analyzing the domestic political factors driving and assessing the intentions towards the world from china. and finally, another legislative director for the united workers, industrial - and overseas congressional affairs in order to improve wages, hours and conditions . which the workers at 1.2 million members for retirees. [inaudible]. thank you for participating today and thank you audience for tuning in. the united states and china, and winning the economic competition. in the united states and china are at the beginning of a long economic competition. the big question now is whether we plan to fight . or to surrender. thankfully people understand to make strides over the past few years. and strengthening oversight of the united states . an expert control the since the technologies have made distinctions on the malicious chinese ente

actually peaked in foreign investment in 2016 of around 472000000000 dollars at that time foreign investment in china was $134000000000.00 since then what we've seen is kind of a steady decline in the u.s. a foreign investment and an uptick in china but you know you have to go back to what happened over the course of 2020 doodoo the pandemic and a lot of the world dynamic shifted at that point some would say suspiciously shifted at that point and so what china's been able to do is not just recover from cobe it but they have thrived through that and watch their economy boom they've they've exceeded expectations in terms of growth and in terms of numbers and now in terms of foreign investment so you know what we've seen over the last few years and it's not just 2020 but the last 2 years china has increased and the u.s. has decreased in many of these areas hillary let's let's bring back hillary for which once again hillary what do you think about this u.s. and china is heading where they had in the future well in terms of the future in terms of what's happening with china you look at least that right no

profitable all along that we invested in china. tom: we talked about the wealth aspirations. o finding a partner to expand the wealth management business? >> we have capabilities to portfolio investments and choices with our clients through virtual interaction. that part of the business has become stronger. china is a fantastic testing ground for digital capabilities and wealth management. our focus is on those capabilities. it is a combination of traditional brokerage business and wealth management and digitalization of that business. in that sense, we have not yet identified one partner we want to work with. we are in contact with many. it is a raise of multiple investments and multiple partners you do different things with rather than a commitment to a single partner. tom: any plans for acquisitions on china to keep that competitive edge? >> we do continue to look at opportunities. we want to see the dust settled first on international relationships, on china's role in the global economy, how the u.s.-china relationship pans out, how the european agreement offers opportunit

europe i think has wizened up toward china become more skeptical over the course of the year but there is a strong and powerful incentive on the trade front on the investment front to do more with china and so that's why i think biden will want to start very early on a transatlantic conversation over china and to include japan south korea australia other democracies outside the transatlantic space because in the end of the day listen china will have the words largest economy by the end of this decade if the democracies are going to stand up to china they have to do it shoulder to shoulder a good time to start is after january 20th when you mention the middle east new adventure that iran is likely to be right up this far as joe biden is concerned donald trump positive calls made some progress in the region we have in the u.a.e. sudan and morocco all establishing diplomatic relations with israel that's not a small thing is it. no and i think the trumpet ministration deserves credit it's a big deal to have relationships between israel and the gulf arab countries moving toward normalization in some cases but in better relations more generally and that's going

europe i think has wizened up toward china become more skeptical over the course of the year but there is a strong and powerful incentive on the trade front on the investment front to do more with china and so that's why i think biden will want to start very early on a transatlantic conversation over china and to include japan south korea australia other democracies outside the transatlantic space because in the end of the day listen china will have the words largest economy by the end of this decade if the democracies are going to stand up to china they have to do it shoulder to shoulder a good time to start is after january 20th now you mentioned the middle east new events that iran is likely to be right up this far as joe biden is concerned donald trump pas of course made some progress in the region we have in the u.a.e. sudan and morocco all establishing diplomatic relations with israel that's not a small thing is it. no and i think the trumpet ministration deserves credit it's a big deal to have relationships between israel and the gulf arab countries moving toward normalization in some cases but in better relations more generally and that's going to

highways and energy pipelines foreign policy analysts are to at layer gave us his insights on china's investmentstrategy and how it contrasts with western goals. well he. already seen the effects of the battle to order the shift in germany a good example it's a city of 2 spork. specific regional was hit hard by the end of the mining industry and other factors a lot of unemployed and so on and now a sense. that there was a mission to earth but we see it was from asia happening in that direction we see many new jobs being created and this is just one example of course china is not just trying to hope without getting anything from this but there is a very big difference we see the west getting involved in some regions of the world and by this i mean their new liberal western it leads to long lead approaches stared they only care for their own interests so called cooperation was to westerly one sided there was no real development happening in this country it's basically the schema steps they if all of their natural resources and in return they all less get nothing now in the case of china there are

is not first of all, it a really big agreement, and europe and china negotiating about investment agreementsince more than seven years, and china always asked the europeans to negotiate about a real free-trade agreement, and the europeans said no, as long as investments from european countries in china are in such difficult -- as they were in the past, we will not be able to negotiate a real free trade agreement. so the precondition was to have a better and more secure environment for european investments in china. that is first of all the starting point of this negotiation. you are right, looking to the u.s. and the bipartisan approach to china, the new president, joe biden, will be not happy about these unilateral approaches to europe and china. there is enough room for a prominent approach to u.s., europe, south korea, japan, australia, and new zealand, of course china. although the countries like australia and others had a much more developed free trade agreement than the europeans did during the last week. as the, it may be seen , autonomousic approach from europe to china, but on the o

we have made one step further, the china investment agreement, we have tried tork put on the market toome to an agreement i am i satisfied to make this? i think this has injected a new quality in the relationship between the european union and china because can do more now, more in line with the policy subsidies, companies but also it's opened up a more predictable access to technology areas. it's also a lot to do with the standards labor, particularly along the lines of airflow. if we want multilateral organizations, conventions and agreements, certain standards had to be put down as record of the condition of work and regarding the environmental norms, this is where these norms are and that's in this agreement. we have to be very fast in finding multilateral answers to new challenges in this. i do hope particularly with the new american administration, who will be able to continue the work, the digital companies that we also in a better position to look at the global importance of competition laws for global monopolies because we do have world and wer the need to address them if you

china investment agreement is facing a lot of criticism but after 4 years of donald trump in the white house many europeans believe it's time for the you to put its own interests 1st even if the u.s. doesn't like it. and last week's storming of the you asked capitol served as a reminder for you leaders that a deeply divided u.s. will continue to look inward even with a democrat in the white house it can no longer be taking for granted as a benefactor and protector and that's why europe has to enhance its strategic autonomy says clement bonn french secretary of state for european if that means that europe should take more responsibility should define its interests its values itself certainly not against the united states we should work together i hope we can work better together with the new biden harrison mr asian but it means we have to be clear about what we want as europeans when it comes to nato joe biden is likely to push europe to spend more on defense just like his predecessor trump's goal was to withdraw u.s. troops from afghanistan and biden's decision on that will be crucial

world so on the one side of course china going to benefit from this but on the other side the partner countries also i do benefit from such that infrastructure investmentsis especially good for other companies which i think one last time to give up on the west. staying with china a poll has highlighted the shifting perceptions of who the country's key partners are trying as global times found that one 3rd of respondents see relations with russia as the top priority and 47 percent believe the u.s. is the key relationship globally a sharp drop from the 82 percent who held back the last year. pac-man wang things there's been a realignment away from washington going on for years. growing perception among the chinese people. he sees may be the time for china to decouple with the u.s. . and of course we can attribute these to mr truong. trade war and he's campaigning against china during his presidency but i will see it and trees a continuation of. administration of the obama period when starting from 2013 i think. the obama's people to issue of course is already tricked the kind of stronger we're actually in china and china start to be you out if you are los

make historic gains and then to embark on a new journey as china enters a development stage it is a new philosophy to foster a new investment paradigm. with the domestic and international circulation. china will work to build an open and inclusive world universal security and common prosperity. general tape of international cooperation of covid-19 the coronavirus is the most pressing to the international community this is because people must be put before anything else pand uto iz that't takes to stabilize the economy. and a stronger global response are what we need to defeat covid-19 across the world especially on the production of vaccines and affordable to people in all countries providing assistance to 150 countries and 150 international organizations and those medical experts to those in need to stay supportive and actively engage with international cooperation. china will continue to show experiments with other countries and do what's best for those that are less prepared in the work of greater accessibility and affordability of an affordable vaccine in developing countries. that would help the efforts to contribute o

growth this rely on demand outside of china investment and consumption here were poor and it won't be easy for this to rebound the slump in consumer spending is a concern for the chinese government last year president xi jinping called for the country to rely less on exports and focus on innovation and bursting household spending but the pandemic has made this shift difficult to achieve resurgent coronavirus cases in the north ahead of annual luna new year festivities in february helping people have been discouraged from travelling and 11 regions around to look down. on the changing epidemic situation an external environment pose a multitude of uncertainties so the foundations of china's economic recovery is yet to be consolidated. china's latest insist the current outbreak is under control and has begun rolling out. 1000 vaccinations in several provinces the international monetary fund says china's economy is expected to grow by 7.9 percent in 2021 katrin e.u. al-jazeera beijing.

what i mean by this is china decided to invest massively in southeast asia to maybe divest from otherworld but we don't know how sustainable this choice is because china is such a big country that they are limiting growth by focusing only when it comes to exports investments, strategies on the asian continent because of the china sentiment in europe and the u.s.. we don't know how sustainable stuck in if china is southeast asia. that as anou worried investor in china, you are subject to the whims, the regulatory whims and changes of the communist party? i thought i story today about jp morgan looking to expand its wealth management business in china which sounds like a great idea, it is going to be a massive industry for sure but then i thought ant was going to get into wealth management big-time and all of a sudden it is not. in fact, it is being crushed by the communist party. isn't that a concern you have doing business there? ludovic: it is a concern across the world. everywhere i see the regulatory backlash because i see the state over welcoming their stay in a series of sectors.

we have gone one step further with regards to the eu-china investment agreement that's been negotiatedver since 2013. we have tried to put that on the market to put in -- to come to an agreement. why have we been unable to make this step? this in a way has injected any -- a new quality in the relationship between the european union and china, because we can do more now that is more in line with reciprocity, with transparency, as regards subsidies, particularly as regards state owned companies, but it also opens up a more predictable access to high-technology areas, state-of-the-art technology, that is, and it also has a lot to do with standards of labor, particularly along the lines of i.l.o. if we want to have multilateral organizations, multilateral conventions and agreements, certain standards have to be put down, common standards as regards the conditions of work, as regards the environmental norms. that is why these core norms of the i.l.o. it is of importance, and that is part and parcel of this agreement. we had to beat fast at fighting -- we have be fast at finding multilateral

i guess want to look towards faith in washington given what we've seen going on in the china investment deal what does that tell us i think that that deal was was really telling and that they beneficial for a lot of the european economies so you know again i mention my earlier point a barracks and lot of economies are reassessing next revelations it is another that is that is probably going to be a key thing that 2021 in this regard right bill our looking at biden's new economic team he's got more women people of color minorities does that do you think indicate in terms of the biden economic policy more of a prioritize ation of some of the economic challenges and issues which for want of a better word we could say the minorities face yes i do think that is the case and you know it's perhaps not just about minorities is probably more related to a larger issue of inequality you know which has been the challenge plaguing many many economies and each political parties try to address in different ways a president trump you know followed a very you know anti immigrations of stance you know to

we have gone one step further with regards to the eu-china investment agreement that's been negotiatedver since 2013. we have tried to put that on the market to put in -- to come to an agreement. why have we been unable to make this step? this in a way has injected any -- a new quality in the relationship between the european union and china, because we can do more now that is more in line with reciprocity, with transparency, as regards subsidies, particularly as regards state owned companies, but it also opens up a more predictable access to high-technology areas, state-of-the-art technology, that is, and it also has a lot to do with standards of labor, particularly along the lines of i.l.o. if we want to have multilateral organizations, multilateral conventions and agreements, certain standards have to be put down, common standards as regards the conditions of work, as regards the environmental norms. that is why these core norms of the i.l.o. it is of importance, and that is part and parcel of this agreement. we had to beat fast at fighting -- we have be fast at finding multilateral

-china investment agreement. ve in signing this with the european union, as some have claimed? jonathan: it's naive if it expects china to change its basic policies, which is not going to do. this is very useful for china, because it gets an agreement with the e.u. at a point where biden will be taking office, with the idea of forming an alliance of democracies to face china. obviously now the ease commitment to that may be in question. agreement, with this we also have to look at a lot of than anynciple, rather kind of detail commitments on either side. it will take a year or so to sort out. in the agreement has to go through the european parliament. and what is happening particularly in hong kong will raise a lot more questions in the european parliament. just: anthony gardner was with us saying the america of 2021 under biden is going to have to do a lot of hard work and reconciliation with international leaders. with that in mind, what you just said, do you think europe's action shows a determination to take t

here at the german presidency, we have gone a step further as regards the-china investment agreementwas negotiated since 2013. we tried to put on a marker to come to an agreement there. why am i so satisfied we have been able to take this step? because this has injected a new quality in the relationship between the european union and china, because we can do more now that is more in line with reciprocity, more transparency as regards subsidies, particularly as regards state-owned companies. but it also opens a more predictable access to high-technology areas. and it also has a lot to do standards of labor, particularly along the lines of ino. if we want to have multilateral organizations, multilateral agreements, certain standards have to be put down, common standards as regards the condition of work, as regards the environmental laws. that is what these core laws of the ino is of importance. you have to be very, very fast in finding multilateral answers to new challenges of digitalization. and i do hope that, particularly with the new american administration, we will be able to cont

that enable us to compete with china's investments in manufacturing, infrastructure, training, research and development, that are ultimately our sources of economic strength. but we need to aggressively counter unfair practices that china uses, whether it is to enforce technology transfer or to invest in ways that the united states that are dangerous to our national security. sen. sasse: thank you. i agree there are a number of strategic areas where we are under investing, from ai to quantum to biotech to robotics, machine learning, etc.. as it relates to 5g in particular and huawei, could you use that as a case study to talk through how you think our policy should be unfolding in the 5g space, how we should be trying to bring together allies to battle the unfair practices that we see from huawei around the world? sen. crapo: may i ask that you make that aqfr? we are running up against a tight deadline. sen. sasse: i will make that a qfr. thank you for your time. looking forward to working with you on these topics. sen. crapo: thank y

in china exceeded foreign direct investment in the u.s. for the 1st time ever is the pandemic to blame here. there are plenty of things going on i wouldn't focus solely on that long term growth prospects china will be supplying the intermediate goods to a lot of the world market it has a huge potentially huge growing domestic market it is a place that has euro out to acquire equity stakes that. businesses will want to get on board and actually there's been liberalization in china and perhaps what we're seeing is much is it's become easier to own an operate for be a partial owner an operator in the chinese market than it was before so it might be a a legal liberalization that is a count that this demand to. invest for direct foreign investment in china probably was just i'm satisfied the pandemic and money and vaccines we know they're getting a lot of attention at the moment the big question today just how many doses of the vaccine could the world's billionaires of forward take a listen to this inequality has grown almost in eve

in china exceeded foreign direct investment in the u.s. for the 1st time ever is the pandemic to blame here. there are plenty of things going on i wouldn't focus solely on that long term growth prospects china will be supplying the intermediate goods to a lot of the world market it has a huge potentially huge growing domestic market it is a place that has euro out to acquire equity stakes that. businesses will want to get on board and actually there's been liberalization in china and perhaps what we're seeing is much is it's become easier to own and operate or be a partial owner an operator in the chinese market than it was before so it might be a a legal liberalization that is a count that this demand to. invest for direct foreign investment in china probably was just i'm satisfied the pandemic and money and vaccines you know they're getting a lot of attention at the moment the big question today just how many doses of the vaccine could the world's billionaires afford take a listen to this inequality has grown almost in every

china investment agreement is facing a lot of criticism but after 4 years of donald trump in the white house many european. believes it's time for the youth to put its own interests 1st even if the u.s. doesn't like it. and last week storming the you asked capitol served as a reminder for you leaders that a deeply divided u.s. will continue to look inward even with a democrat in the white house it can no longer be taking for granted as a band a factor and protector and that's why europe has to enhance its strategic autonomy says clement bonn french secretary of state for european fs means that europe should take more responsibility should define its interests its values itself sort of it against the united states we should work together i hope we can work better together was a new light in her recent history but it means we have to be clear about what we want as europeans when it comes to nato joe biden is likely to push europe to spend more on defense just like his predecessor trump's goal was to withdraw you asked troops from afghanistan and biden's decision on that will be crucial f

in china exceeded foreign direct investment in the u.s. for the 1st time ever is the pandemic to blame here. there are plenty of things going on i wouldn't focus solely on that long term growth prospects china will be supplying the intermediate goods to a lot of the world market it has a huge potentially huge growing domestic market it is a place that has euro out to acquire equity stakes that. businesses will want to get on board and actually there's been liberalization in china and perhaps what we're seeing is much is it's become easier. only an operator for be a partial owner an operator in the chinese market than it was before so it might be a a legal liberalization that is a count that this demand to. invest for direct foreign investment in china probably was just i'm satisfied the pandemic and money and vaccines we know they're getting a lot of attention at the moment the big question today just how many doses of the vaccine could the world's billionaires afford take a listen to this inequality has grown almost every coun

china will continue to promote trade and investment and facilitation, keep the supply chains smooth and stable, and advance high-quality belt and road cooperation. china will promote institutional opening up that covers rules, regulations, management and standards. we'll foster a business environment that is based on market principles governed by law and up to international standards and unleash the potential of the huge china market and enormous domestic demand. we hope these efforts will bring more cooperation opportunities to other countries and give further impetus to global economic recovery and growth. china will continue to promote sustainable development. china will fully implement the 2030 aoyño for sustainable development and will do more on transforming and improving its industrial structure and energy mix at a faster pace and promoting a green, low carbon way of life and production. i have announced china's goal of thriving to reduce carbon dioxide emissions by 2030 and achieve carbon neutrality before 2060. meeting these targets will require trumepd s hard work from china.

well it's very interesting because silicon valley is big when it comes to investing in china and china chinese tech so one really wonders what's going through their minds in terms of processing this and to what extent it's going to impact how they invest in china so i guess to sort of step back a bit how this is really weird is it it's definitely very weird but we've. seen this kind of thing before we had a case a couple of years ago with being being the actress who is china's most famous actress she just disappeared for 2 months nobody knew where she was. absolutely no information and 2 months later she read to months wherever she was she reemerge with a massive tax bill full of the policies messages of support from the communist party so like taylor swift disappearing exactly yes so it's not it's these these big figures i was almost you can almost see a pattern you know i don't read too much into it because there have been other things about the government to implementing rules and about monopolies and stuff but it's also highly symbolic i think that the most famous entrepreneur and

well it's very interesting because silicon valley is big when it comes to investing in china and china chinese tech so one really wonders what's going through their minds in terms of processing this and to what extent it's going to impact how they invest in china so i guess to sort of step back a bit how this is really weird is it it's definitely very weird but we see. this kind of thing before we had a case a couple years ago with being being the actress who is china's most famous actress she just disappeared for 2 months nobody knew where she was. absolutely no information and 2 months later she read to months wherever she was she reemerged with a massive tax bill full of apologies and messages of support for the communist party so it's like taylor swift disappearing exactly yes so it's not it's these these big figures and it's almost you can almost see a pattern you know i don't read too much into it because there have been other things about the government of britain preventing rules and about monopolies and stuff but it's also highly symbolic i think that the most famous entrepren

china debate europe risks potentially alienating crucial sources of investment and trade. while the u.s. remains europe's largest trading partner in 2019 early data from last year showed china on course to overtake the u.s. for the top spot. washington may be celebrating a new era but that doesn't change the global backdrop of the world economy is being shaped by the battle between china and america for supremacy and europe is caught in the middle. it will take more than just a fresh face in the white house to change that. or into the high seas now shipping is essential for world trade but spare a thought for the crews who operate those ships particular particularly in times like these and since the pen demick began many sailors have been stuck in quarantine on their ships they can't go home and they're not being paid of the international crew change system is in crisis and this dire situation applies right now to about 400000 seafarers worldwide but according to the international chamber of shipping if something isn't done that number could rise to as high as a 1000000 now

europe i think has wizened up toward china become more skeptical over the course of the year but there is a strong and powerful incentive on the trade front on the investment front to do more with china and so that's why i think biden will want to start very early on a transatlantic conversation over china and to include japan south korea australia other democracies outside the transatlantic space because in the end of the day listen china will have the words largest economy by the end of this decade if the democracies are going to stand up to china they have to do it shoulder to shoulder a good time to start is after january 20th now you mentioned the middle east new adventure that iran is likely to be right up this far as joe biden is concerned donald trump positive course made some progress and in the region we have the u.a.e. sudan and morocco all establishing diplomatic relations with israel that's not a small thing is it. no and i think the trumpet ministration deserves credit it's a big deal to have relationships between israel and the gulf arab countries moving toward normalization in some cases but in better relations more generally and that's goi

chinese investment in the region can you going to have at a bit more and why that's an issue in all this. well you know we were talking earlier about the baluch separatist insurgency now china is investing heavily in focused on this is building roads it is building a deep sea for the water on the in baluchistan and the nationalist feel that this is a ploy by the talks on the federal government by the army to take away further resources from baluchistan because they are seeing b.n. or benefiting from it whatever you are doing to to provide. one belt one road project in pakistan's but that you are not really benefiting from it so there's a lot of suspicion there's a lot of animosity towards this project because china focused on economic or door and that's why a lot of chinese have been attacked by militants in the past there was an attack on chinese consulate. and i think people talk of. these infrastructure projects being built by china 2nd to loni thank you for joining us. that's it for now be sure to check out our other stories on dot com for asia or on facebook and twitter thanks for watching see you next time and good bye. every day. for us and for our planet. the idea i

china a comprehensive investment agreement to the r. e.c.p.a. involving many asian countries china has tried to prevent the u.s. from joining forces with its allies so the biden stray ssion can expect beijing to be more and more assertive on the international stage as a world leader and using its mass market and this rich resource to win more friends and pressure those countries that don't agree with them so they're in taipei thank you. it is time now for a look at some of the other business stories making news in south korea the billionaire de facto head of samsung j.y. and levy has been jailed for 2 and a half years on corruption charges this comes after the high court in seoul overturned lee's original suspended sentence because bing insisted the former president park geun pig in $27.00 t.v. . reports say the trump administration has told companies including chip maker intel that it is revoking certain licenses to sell to chinese telecommunications trying while washington sees hallway as a national security threat due to its alleged close ties

china's trade tactics but europe has been less willing to court conflict with china and december the e.u. signed a landmark investment pact with china despite a plea by biden to hold back until his presidency was in full swing. the e.u. is in a very tough spot many european leaders do share the u.s. concerns about china's economic policies and its human rights violations but by picking sides in the u.s. try to debate europe risks potentially alienating crucial sources of investment and trade. well the u.s. remains europe's largest trading partner and 2019 early data from last year showed china on course to overtake the u.s. for the top spot. washington may be celebrating a new era but that doesn't change the global backdrop of the world economy is being shaped by the battle between china and america for supremacy and europe is caught in the middle. it will take more than just a fresh face in the white house to change that. is to the high seas now cargo ships are essential to world trade but spare a thought for the crews that operate them particularly in times like these because since the pandemic began many sailors h