After reaching a record $60 billion in 2016, two-way US-China foreign direct investment (FDI) flows have been squeezed into a diminished position from both sides of the Pacific. In 2017 the value of completed Chinese FDI transactions dropped by over a third as Beijing re-imposed capital controls and Washington toughened screening of high-technology acquisitions. The value of newly announced transactions dropped by more than 90%. The 2018 outlook is more uncertain still. President Trump has designated China a strategic competitor, a label not applied since 2000, and Washington is contemplating a disruptive array of more restrictive China policies to respond to perceived unfairness, including greatly stepped up investment screening.

On April 10, Rhodium Group and the National Committee on U.S.-China Relations will host an event in Washington D.C. to release two studies that will shape the public debate on these urgent topics: Two-Way Street, the definitive analysis of US-China FDI trends from 1990 through 2017; and New Neighbors, the seminal analysis of local impacts from Chinese FDI across every US congressional district. This event is part of the U.S.-China FDI Project, and is the most important presentation of research on US-China FDI of 2018.


Speakers & Panelists to Include:

David Fagan co-chairs Covington’s top ranked practice on cross-border investment and national security matters, including reviews conducted by the Committee on Foreign Investment in the United States (CFIUS), and also leads the firm’s cyber and data security incident response practice. Mr. Fagan is rated by Chambers USA and Chambers Global for his leading expertise in CFIUS matters and privacy and data security, and was named as a Dealmaker of the Year by The American Lawyer for 2016.


Report author Thilo Hanemann is director of Rhodium Group’s cross-border investment practice. His research assesses new trends in global trade and capital flows, related policy developments, and the political and commercial dynamics of specific transactions. Mr. Hanemann’s most recent work focuses on the evolution of China’s international investment position, and the economic and policy implications of this new trend. He is a frequent speaker and commentator on China’s outward investment and has published numerous reports and articles on the topic. He is also a Senior Policy Fellow at the Mercator Institute for China Studies, Europe’s biggest China think tank, located in Berlin.


Kenneth Jarrett has been president of the American Chamber of Commerce in Shanghai since September 2013. Prior to that he was the Greater China Chairman for APCO Worldwide, a Washington-based public affairs consultancy from 2008 to 2013, and before that a U.S. diplomat from 1982 to 2008. During his 26-year diplomatic career, his postings included consul general in Shanghai, deputy consul General in Hong Kong, and director of Asian Affairs at the White House National Security Council. He also served in Beijing, Chengdu, Singapore, and had several assignments in Washington, DC. Mr. Jarrett has degrees from Cornell University, Yale University and the National War College. He is the recipient of the Magnolia Award (Silver) from the Shanghai government and is a member of the National Committee for US-China Relations.


Stephen A. Orlins has been president of the National Committee since 2005. Prior to that, he was the managing director of Carlyle Asia and the chairman of the board of Taiwan Broadband Communications, one of Taiwan's largest cable television and high speed internet providers. Prior to joining Carlyle, Mr. Orlins was a senior advisor to AEA Investors Inc., a New York based leveraged buyout firm, with responsibility for AEA's business activities throughout Asia. From 1983 to 1991, Mr. Orlins was with the investment banking firm of Lehman Brothers where he was a Managing Director from 1985 to 1991. From 1987 to 1990, he served as President of Lehman Brothers Asia. From 1976 to 1979, Mr. Orlins served in the Office of the Legal Advisor of the United States Department of State, first in the Office of the Assistant Legal Advisor for Political-Military Affairs and then for East Asian and Pacific Affairs. While in that office, he was a member of the legal team that helped establish diplomatic relations with the People's Republic of China. Mr. Orlins is a magna cum laude graduate of Harvard College and earned his law degree at Harvard Law School. He speaks Mandarin Chinese and is a member of the Council on Foreign Relations.


Report author Daniel H. Rosen is a founding partner of Rhodium Group and leads the firm’s work on China. Mr. Rosen has more than two decades of experience analyzing China’s economy, corporate sector and US-China economic and commercial relations. He is affiliated with a number of American think tanks focused on international economics, and is an Adjunct Associate Professor at Columbia University. From 2000–2001, Mr. Rosen was Senior Adviser for International Economic Policy at the White House National Economic Council and National Security Council. He is a member of the Council on Foreign Relations, and board member of the National Committee on US-China Relations.

April 10, 2018 8:30am to 12:30pm EDT
David Fagan
Thilo Hanemann
Kenneth Jarrett
Stephen Orlins
Daniel Rosen
Covington & Burling, LLP
Washington, DC

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