“(Both countries) need to work together,” said Kimberley’s son, Grant. The trade group represents more than 200 US companies that do business with China. Poll data released in August by the US-China Business Council showed that up to 83 per cent of its companies counted China as either the top or among the top five priorities for their corporate global strategy. Even the vast majority of Apple’s iPhones are assembled in China. It is the largest source of revenue for Starbucks outside the US, while General Motors sells more vehicles in China than in the US. Yet, China is too big a market to ignore. Muscatine Mayor Diana Broderson said: “When decisions are made at the top levels between countries, that trickles down to what happens in small-town America, right here in Muscatine.” Then the trade war hit, and the project has been put on hold. When Kent Corporation, a major Muscatine employer, wanted to build an international river port in Iowa, Chinese shipping company Cosco expressed interest in the project.
That dropped to US$5.4 billion in 2018, US$5 billion in 2019 and just US$200 million in the first quarter last year. In 2017, Chinese foreign direct investment in the US was US$30 billion. But there is also hope, just as there was not too long ago when Xi’s oldest friends in the US welcomed him back.
#SYNONYMS FOR MICROCOSM SERIES#
The fallout has been immense, the series When Titans Clash discovers. What happened in Muscatine provides a microcosm of the impacts of bilateral tension on both countries, far from the halls of power in Beijing and Washington. But since the US-China trade war started in 2018, tourist and business visits have fallen. Cheng’s investments and those by other Chinese entrepreneurs helped to give jobs to Muscatine residents.
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