Dean Jones Emcees Washington State China Relations Council’s 37th Annual Banquet On March 15th; Joins RSIR’s Asia Services Group Members At Event

Keynote Presentations by Ambassador Carla A. Hills and Ambassador Gary Locke

On March 15th, Dean Jones, President and CEO of Realogics Sotheby’s International Realty, was the guest emcee during the Washington State China Relations Council’s 37^th Annual Banquet; which was held at the Bal Harbor Convention Center on the downtown Seattle Waterfront.  Jones welcomed hundreds of invited guests, including Ambassador Carla A. Hills and Ambassador Gary Locke. RSIR’s Asia Services Group members in attendance included Lili Shang, Robert Pong, Shelley Zhou, Tammie Chi, Dehlan Gwo, Mei Yang, Helen Pederslie, and RSIR co-owner Stacy Jones.

“It was truly an honor to participate in the WSCRC 2017 Annual Banquet,” said Jones, “We are proud to be a sponsor of this important institution, and I’m personally inspired to play a role as a WSCRC Board Member and Real Estate Committee Chair during these unprecedented times of foreign direct investment and China relations.”

“Thank you for your outstanding service as banquet emcee,” said Andy Wilson, WSCRC Chairman and President. “You adeptly kept the program flowing and atmosphere glowing. We would also like to express our appreciation to Realogics Sotheby’s International Realty for their sponsorship of our 37^th Annual Banquet. Your participation and support made critical contributions to WSCRC’s efforts to amplify Washington State’s voice in U.S.-China trade relations. The leadership role of Realogics Sotheby’s International Realty is essential to positioning Washington State strategically in innovation and investment cooperation with China.”

The program began with welcoming remarks from Port of Seattle Commission President Tom Albro, who introduced newly-appointed WSCRC Chairman Andy Wilson. Wilson outlined WSCRC’s new vision to amplify Washington State’s national voice, increase visibility on the role of Washington State in US-China trade relations and, more broadly, advocate for equitable globalization. Wilson then introduced newly-appointed WSCRC President, Mercy A. Kuo.

The banquet featured keynote speaker Ambassador Carla A. Hills—Chairman and CEO of Hills & Company International Consultants, Chair of the National Committee on U.S.-China Relations, Co-Chair of the Council on Foreign Relations, and U.S. Trade Representative (1989-1993)—who addressed the future of US-China trade relations. Former U.S. Ambassador to China and Washington State Governor Gary Locke introduced Ambassador Hills, and then both parties exchanged their views on the new US administration’s plans to renegotiate the North American Free Trade Agreement (NAFTA) and reconsider the rules of the World Trade Organization (WTO).

When asked what would happen if the U.S. should decide to circumvent rules in the WTO and exercise American sovereignty, Ambassador Hills replied, “If we tear up the WTO, we would be out in the jungle! The law of the jungle would preside. Our average tariffs are two percent. Some countries we trade with put 50 percent tariffs on U.S. products. If we did not have WTO rules to protect us, then they would retaliate and we would counter. We would be in a very bad situation with trade wars brewing, and the economy would be a mess.”

Ambassador Hills underscored four critical factors in the framing the future of U.S.-China trade relations:

1. Explain the trade facts to the public, so that the public can judge based on fact, not fiction. Most Americans are unaware that 80 percent of our trade is through global supply chains. Twenty years ago, East Asia had about two-thirds of our deficit. Today, China has become the major player in the East Asia supply chain. Sixty percent of U.S. imports are intermediate goods that make our exports globally competitive.
2.  Convene high-level leadership meetings. The strategic and economic dialogue is important and useful, but there should be higher-level meetings where both countries’ leaders can talk candidly about the solutions to key issues.
3. Enforce established rules. If we ignore the rules, why should any other nation abide by them?
4. Increase the training of a skilled workforce. Jobs need skilled workers; technology has advanced our economy, but does not give solace to displaced workers. There is also a need to develop better social programs to assist such workers

U.S. Government representatives also shared their views on U.S.-China trade relations:

Brian Surratt, Director of Economic Development at the Office of the Mayor of Seattle, highlighted the WSCRC’s role in preparing Mayor Ed Murray’s 2016 delegation to China, including travelling to the key Chinese cities of Shenzhen, Hangzhou, and Hong Kong. Surratt noted that Xiamen Airlines, Vanke (a large Mainland China-based real estate developer), and BGI (the world’s largest genome bank) has announced it is expanding its international operations with the formation of a new division, BGI Groups USA, to be based in Seattle.

Brian Bonlender, Director of the Washington State Department of Commerce, underscored that the WSCRC is critical in these times of uncertainty in U.S.-China relations. Since the United States entered the WTO 20 years ago, now is a good time to review and improve our work around trade with China—including intellectual property protection; subjection of China’s state-owned enterprises to our regulations protecting privacy and the environment; and personal data protection.  The Department of Commerce will be in 10 different countries around the world, and will implement an international attraction and trade promotion plan. Washington State has led the country in export programs, generating 71 opportunities and 6,000 jobs in business development.  Governor Jay Inslee is planning a visit to China in August. The Department of Commerce, in collaboration with the Chinese Ministry of Commerce, is planning an inbound investment forum in fall 2017 in Seattle.

Yang Yihang, Economic and Commercial Counselor of the People’s Republic of China Consulate General in San Francisco, noted that in the past 30 years, economic relations between China and the United States have developed rapidly. In 2013, bilateral trade reached $519 billion—207 times the volume of 1979. China has become the U.S.’s largest trading partner. In 2017, Chinese company’s direct investment in the U.S. had increased 132 percent to $19.5 billion while U.S. companies’ investment in China has grown by 52 percent. Companies from both sides are optimistic. Counselor Yang emphasized that China-Washington State economic relations are unique. In 2016, trade between China and Washington State reached $20 billion. In exports to China, Washington State ranks first among U.S. states. Yang affirmed that it is mutually beneficial for the two sides to cooperate, and Washington State is leading the way.

Dr. Vikram Jandhyala, Vice President for Innovation Strategy at the University of Washington, highlighted the University’s collaboration with Tsinghua University in China on Global Innovation Exchange (GIX)—a global incubator to develop an in-depth perspective on technological innovation.

The WSCRC also honored Robert A. Kapp with the Sidney Rittenberg Award for unique leadership in advancing US-China relations. Stanley Barer, co-founder of WSCRC, presented the Sidney Award to Bob Kapp for his service as the WSCRC executive director from 1979–1987 and 1992–1994.