Source: 89.3 KPCC
Hundreds of business and government leaders from California and China gathered in downtown Los Angeles Thursday for the second annual California-China Business Summit, and many expressed cautious hope for the future, now that President Trump has backed away from his earlier threats of a trade war with Beijing.
“The fact he didn’t carry through on his campaign rhetoric, I think there’s been a collective sigh of relief,” said Peter Shiao, chairman of the conference and CEO of Orb Media Group. “Of course, it’s still tenuous.”
China invests in California more than any other state. Last year alone, a record $16.4 billion poured in, according to the Rhodium Group. China, which is also the U.S.’s largest trading partner, accounts for more than 40 percent of the traffic through the ports of Los Angeles and Long Beach, according to the ports.