PHOTOS: GETTY IMAGES, COLLAGE: MORNING BREW
CHINA IS THE NEW HOTSPOT FOR US CEOS
BY: CASSANDRA CASSIDYORIGINAL SITE: MORNING BREW
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US execs are making their way to China to shore up business relations amid rising geopolitical tensions.
There are places you can reliably find high-profile CEOs: the Juvet Landscape Hotel, Burning Man, and this week…China.
CEOs including Jamie Dimon of JPMorgan, Laxman Narasimhan of Starbucks, and Elon Musk of Tesla have been flooding the country. And they’re not just there because they found a flight deal on Skiplagged: US executives are trying to strengthen relationships in China, a critical market for many American companies, as tensions rise between the two nations.
These visits are reviving conversations about “decoupling,” questioning what would happen if the two economies tried to stand on their own (something that both Musk and Dimon explicitly came out against).
The US–China relationship isn’t exactly simpatico at the moment…and it hasn’t been for a while because of concerns over human rights, Taiwan, and China’s relationship with Russia. While the CEOs were en route, China refused a meeting between the two countries’ defense chiefs, and the US accused a Chinese jet of approaching a US plane last week in an “unnecessarily aggressive maneuver.”
Zoom out: Whatever is happening on the political front, the presence of these top execs in China reinforces what experts say—that the world’s No. 1 and No. 2 economies rely on each other too much right now to sever ties.—CC