What the West gets wrong about China’s big economic ideas
- Business leaders assess the US-China trade war and the prospects for resolution
- Fung Group chairman says trade has changed and China must change with it
China is a long way from its economic goals, and the fear of a Chinese threat among Western nations is caused by a misunderstanding of Beijing’s propaganda, Chen Shuang, chief executive officer of China Everbright, said.
Speaking at the South China Morning Post’s annual China Conference, Chen – who heads the listed Hong Kong branch of the state-owned financial conglomerate, said Chinese businesses such as Everbright had become casualties of fear caused by the misreading of China’s sloganeering.
Other business leaders who spoke said Chinese companies were finding ways to mitigate the effects of a US trade war with China which was doing neither side any good.
Chen said there was a huge gap in understanding between the West and China over “Made in China 2025”, the “Belt and Road Initiative” and the Greater Bay Area plan.
He said Western countries might not understand that it was common practice for the Chinese government to rally domestic support with propaganda.
