The seminar, entitled “China: The Opportunities
and Challenges”, covered trade relationships and an economic benefit
analysis. The speaker, Mr. Peter Cheng, has extensive experience in doing
business in China. He spoke of his own experiences and illustrated his
ideas using numbers and graphs. Mr. Cheng discussed the excellent business
opportunities available with China, citing how trade between the United
States and China has grown three fold over the past ten years while trade
between the United States and other regions in the world has grown less
In the coming decade, although trade will not grow at the same rate,
the increase in business between Sino and US will still outpace other
trading partners in the world. With the Chinese economic community predicted
to soon have the world’s largest GDP, there is no doubt that the
business opportunities are great.
Mr. Cheng encouraged the attendees of the seminar to look in to the
On the challenges, Mr. Cheng listed the top six as cultural differences,
negotiation, communication, lack of a common legal structure, management
of relationships, and project control. Mr. Cheng stated that those in
the United States should be flexible in their business models in order
to readily adapt to the inevitable changes that the increased business
with China will bring.
Mr. Cheng’s speech drew enthusiastic feedback from the audience
and many questions were asked at the end of the presentation pertaining
to their business and personal interests on the subject.