News and Events
Graziadio School Hosts China’s Vice President Xi Jinping Business Delegation
The Graziadio School of Business and Management and ChinaMart® Los Angeles hosted a seminar on U.S.-China trade relations and shared economic interests on February 16 for members of a business delegation from the People’s Republic of China and U.S. business officials as part of Vice President Xi Jinping’s visit to Los Angeles.
Positioned as China's next president, Vice President Xi Jinping traveled to the U.S. at the invitation of U.S. Vice President Joe Biden, accompanied by the business delegation, in an effort to help enhance diplomatic ties and develop business and professional relationships in the Southern California area.
The seminar event began with a business mixer and match-making session in the morning to promote U.S. exports and imports at ChinaMart® Los Angeles, a one-stop portal providing support for Chinese manufacturers to successfully market in the U.S. The second portion of the seminar event was held at Pepperdine University's West Los Angeles campus with a keynote address by Terry Young, Ph.D., a professor of economics and chair of the Economics and Law Department at the Graziadio School of Business and Management.
"Dr. Young has more than 25 years of business experience in Asia and the United States and has extensive knowledge of the global marketplace, with a primary emphasis on Asia," said Dean Linda A. Livingstone. "The jǐnmì liánxì between China and the United States is one of the world's most important international relationships and we are honored to host Vice President Xi Jinping's delegation at the Graziadio School in the hope that our discussion and interaction will increase business opportunities and cooperation between our two countries."
According to a report Growing Together: China and Los Angeles County prepared by the Los Angeles County Economic Development Corporation (LAEDC), "the futures of China and Los Angeles County are very bright. Both locations possess the resources and tools necessary to reap the benefits of increased globalization. China and Los Angeles County will continue to play vital roles in the California economy and for that matter in the U.S. and global economies."
Adds Young, "U.S.-China tensions are likely to increase given both countries will defend their own interests. However, it's essential for U.S. and China to work together for global stability and world peace."
"We look forward to welcoming Vice President Xi Jinping's business delegation and working with them to increase financial and business cooperation between China and the United States," says Stephen Perl, CEO of ChinaMart Los Angeles® and PMF Bancorp. "This visit is an important part of setting the tone for relations between China and the U.S. over the next decade – one that promotes ongoing trade and future growth opportunities."
According to the LAEDC report "U.S.-China trade has increased dramatically over the past thirty years jumping from $4.8 billion to $366 billion. Los Angeles County has established very close economic ties with China. The Los Angeles Customs District (LACD) handles about 40% of total U.S, trade with China. Indeed, the ports of Los Angeles and Long Beach together handle almost 36% of total trade between China and the U.S."
"The events at ChinaMart® Los Angeles and Pepperdine's Graziadio School of Business and Management are important to supporting international trade and increasing business opportunities between China and the U.S.," said Vance Baugham, President of the World Trade Center Association Los Angeles – Long Beach. "Increasing awareness and marketing Southern California to Chinese companies will help spur investment in the region, creating jobs and economic activity."
Sponsors of the event include: Pepperdine's University's Graziadio School of Business and Management, ChinaMart® Los Angeles, 1st PMF Bancorp™, the World Trade Center Association Los Angeles – Long Beach, Los Angeles World Airports, ASD Las Vegas Trade Show, JP Communications, Inc. and Mitchell Silberberg & Knupp LLP.