China as emerging market leads global economic recovery, says US expert
Source: xinhua Date: 2009-12-18
China, as an emerging market is leading many of the recoveries in the world, and the U.S.-China ties will help both countries foster economy and sustain global commerce, a U.S. expert told Xinhua on Tuesday.
"There has never been so much more inter-coupling as it is now between U.S. and China. As we all can see, China as an emerging global market place is leading many of the recoveries in the world," said Luis E. Fiallo, Managing Director for Marketing and Corporate Development at China Telecom Americas.
Fiallo also serves on Virginia Governor Tim Kaine's Broadband Roundtable, and had been an advisor to former U.S. President George W. Bush.
"The U.S. has incurred a lot of debts, and partners with China will be able to help both countries to foster economy," he said.
Fiallo said believes that his country needs to cooperate with China not only in areas of consumer consumption and investment, but also in innovation and new technology.
"For example, China's green technology is fascinating and unbelievable," he said.
Fiallo said earlier that China is transforming from a manufacturing based economy to an information based economy, when speaking to Chicago's international business community at U.S.-China Business Forum held on Tuesday.
"I am very proud to be part of the economies of both countries. They are very important to sustain the global commerce. It is very important to continue to build good relationship between the two counties, " Fiallo said.
Fiallo also briefed the development of China Telecom in the U.S., which has established its largest international subsidiary in the country under the name China Telecom Americas.
"China Telecom Americas is ...the leading integrated information infrastructure provider, " Fiallo said.
"Information infrastructure has become the lifeblood of global organizations, facilitating collaboration, supporting mission-critical applications and delivering vital content throughout the organizations as well as to its customers and partners, " he noted.
Fiallo further said that "it is important to know the distance between China and the U.S. is very long which requires the necessary infrastructure to support the communication needs between the two countries."
China Telecom Americas' business is growing very fast with 62 employees now working in the U.S. and offices in San Francesco, Los Angeles, New York, Boston, Chicago and Miami. The company set up offices in Canada in 2005 and will expand to Brazil the next year, Fiallo said.
"China is the most fascinating country in the world and it is essentially the best positioned country. And China Telecom is one of the largest telecom companies in the world. So I was very happy and excited to join China Telecom, " he said.
Fiallo, working for the Chinese company for nearly six years, said that "I enjoy the international aspect of it, love the fact that China is so much evolving and changing over the last few years. Right now more and more Chinese companies are coming to the U.S. and I am very excited to help them with their telecom needs."
A seasoned executive who helped China Telecom expand in the U.S. market, Fiallo suggested that Chinese companies interested in the U.S. market should first of all have a plan and expectations of what they can achieve here.
"It is going to be very different here as compared to China," he said. "If you are planning to sell to mass market, such as toys, you will need channels to reach out to consumers. Internet provides you with a channel but you still need to do marketing to raise eye balls."
Fiallo also recommended Chinese companies to get in touch with organizations such as Chamber of Commerce to acquire information and resources, which are helpful to the market entry.
As a last suggestion, he said that there are a lot of free trade zones in the U.S. that Chinese companies should take a look at to determine where they should locate their distribution, assembly and shipping.
