US-China Chamber President ‘Doesn’t See Significant Economic Value’ in Midwest China Hub
Missouri Digital News reports in a series of segments this morning that Siva Yam, president of US-China Chamber of Commerce, is cautioning Missourians to lower their expectations of what an Aerotropolis at Lambert would mean to the region.
US-China Chamber of Commerce President Siva Yam says Missourians shouldn’t expect too much from Chinese investment.
“There has been an illusion that Chinese investment are coming to America and help the economy. “
Yam says most of the investments from China are looking for research and sales opportunities, rather than hiring laborers.
I wrote on Monday about the “mistakes” that were made that China Law Blog identified with regard to Mamtek. CLB calls it the “China is rich. We want money. Therefore this is a good deal” syndrome. Economic activity requires more than just a connection to China.
Yam seems to agree. In fact, it’s not the St. Louis economy that a China Hub would mainly help, Yam says. It’s the city’s PR.
Yam says the publicity values are what St. Louis and Missouri really benefit from.
“It’s a good news for St. Louis not from an economic perspective, but having a China hub would basically help St. Louis proceed itself to be more international in the future.”
We’ve been skeptical of the job estimates given for the project for a long, long time. It’s amazing that at this late stage in the session, the president of the USCCC is basically saying Aerotropolis is a giant public relations project.