Xi-Trump phone call fails to spark much enthusiasm on Chinese factory floors
Disillusioned by US president’s shifting policy positions, many manufacturers want to see clearer signals before they make major moves
As two of the world’s most powerful leaders – President Xi Jinping and US counterpart Donald Trump – exchanged rare conciliatory words in a phone call that signalled a potential thaw in China-US tensions, the mood on factory floors in China remained far more restrained.
Exhausted by continual policy shifts and disillusioned by Trump’s volatility, many manufacturers are delaying major moves until clearer signals emerge.
“No one jumps on Trump’s word any more,” said Winnie Lam, general secretary to the board of the Hong Kong Business Association Vietnam.
“Especially, no one will make any long-term decision when it is not a signed agreement, Vietnam-US or China-US.
“If a project is on hold, the status remains as is. Those going ahead are forging ahead. Not seeing any sudden pullback at this point.”
During their conversation on Thursday, the first in two months, Xi and Trump discussed the troubled trade relationship between China and the United States, Chinese rare earth exports and overseas students. They also extended invitations for visits to their respective national capitals.