USCIB participated in a Seminar with the OECD Informal Reflection Group on China as part of the Business at OECD (BIAC) delegation of the China Expert Group on November 27. The BIAC China Expert Group was created for the purpose of contributing expert guidance to China–OECD cooperation in areas that improve the investment climate and overall business environment in China. According to USCIB’s China lead Eva Hampl, who participated in this meeting, the group promotes adherence to OECD instruments and the sharing of knowledge on policy practices, contributing to a more level playing field for all businesses operating both inside and outside of China. It consults annually with the OECD Informal Reflection Group on China, which includes OECD Ambassadors from a wide range of countries. It also works with the OECD’s senior representative in Beijing to help scale–up the OECD presence in China. China is not a member of the OECD but participates in many of its meetings as an observer.
The focus of the discussion was “The OECD and China in the post-COVID scenario. Avoiding decoupling –strengthening resilience.” The business presentation provided an economic assessment, noted the global challenges, and included several so-called reflection topics on technological decoupling, artificial intelligence, state-owned enterprises (SOEs), and supply chain resilience.
Hampl, USCIB Senior Director for Investment, Trade and Financial Services, spoke on the issue of supply chain resilience, highlighting current business challenges globally in the context of the pandemic, as well as specifically related to China.
Hampl encouraged the OECD not to shy away from addressing the difficult issues, highlighting successful OECD workstreams on SOEs and subsidies.
“The relationship with China is complex, multifaceted and can be challenging for business,” stressed Hampl.
The OECD’s December 2020 Economic Outlook released yesterday highlights that China, where the recovery from the pandemic started earlier, is expected to grow strongly at 8% in 2021, accounting for over a third of global growth. Given China’s importance in the global economy, its practices and policies have a significant impact on its trading partners, providing strong incentives to work together to address common challenges and responsibilities.