The global financial crisis has rattled economies large and small, but a new report says trade deals forged between China and Southern California a decade ago should continue to grow.
Forward-thinking Chinese businessmen are using the cut in profits as an opportunity to acquire branding and marketing skills, according to a Nov. 20 New York Times report.
One Pasedena-based business consultant, representing the Chinese fabric manufacturer Shanghai Tiqiao Textile, told the paper they were positioning for when China becomes a major consumer of fashion.
American companies are striking similarly aggressive poses.
Composite Technology Corporation of Irvine points to the $586 billion in infrastructure spending China is planning in order to boost its economy, the report said, a key opportunity for its carbon fiber cables.
“The demand for transmission lines is growing because electric power is the absolute necessity for all other economic development,” Marvin Sepe, chief operating officer of Composite, told the Times.
The relationships forged across the Pacific will continue to grow as executives from both sides brainstorm ways to bring people together.
For its part, investment banks like Roth Capital Partners have had plenty of success bringing Chinese and American executives together.
Roth will host 70 Chinese companies at a conference in Las Vegas the first week of December to meet with American investment managers, the report said — more than last year, before the economic crisis hit its peak.
One American marketing executive who founded a company in China harkened back to a particularly sunny time in U.S. economic history to describe the country, even now.
“When I go to China, I get a sense of optimism that I last saw in the early 1950s in America,” James McClain told the paper.
This article was submitted by Kathleen O’Connor, a contributing writer for Biz2Credit. Biz2Credit is a small business marketplace that provides entrepreneurs with the latest industry news and financial advice. Send all questions to email@example.com.