As Missouri legislators have debated tax breaks for a Chinese trade hub in St. Louis, a Chinese business leader based in Chicago has somewhat different perspective on the issue.
Siva Yam is the president of US-China Chamber of Commerce.
That's an international organization of businesses involved in Chinese American trade.
He says he doesn't see significant economic value in building a China hub in the Midwest.
|Description: "A lot of the Chinese buy from the Midwest, some of them, it would be the grain, agricultural product. But like we said, China have restriction."|
Yam says shipping by air increases the cost.
|Description: "Those are low value added. If you ship them by air, they are not going to competitive."|
Yam added an air cargo in the Midwest is at a disadvantage because the products can not be delivered by air.
Reporting from the state capitol, I'm Tong Gao.
The US-China Chamber of Commerce says for the value of China hub, Missourians should look beyond the airport in St. Louis.
US-China Chamber of Commerce President Siva Yam says Missourians shouldn't expect too much from a China hub.
|Description: "There has been an illusion that Chinese investment are coming to America and help the economy."|
Yam says although he is not expecting significant economic values from the China hub, the benefits of this plan are far beyond the airport.
|Description: "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."|
Yam says the publicity values are what St. Louis and Missouri really benefit from.
Reporting from the state Capitol, I'm Tong Gao.
US-China Chamber of Commerce president said a China hub won't help much with job creation.
St. Louis Mayor Francis Slay, supporter of the China Hub plan, says the passed bill is insufficient to support international trading.
|Description: "What's gonna happen is we are not gonna have an international trade hub in Missouri. And there could be a lot of jobs and economic opportunities that gonna be lost."|
However, US-China Chamber of Commerce President Siva Yam says Missourians shouldn't expect too much from Chinese investment.
|Description: "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.
Reporting from the State Capitol, I'm Tong Gao.
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