US and China relations could have new start

Published:

On: Nov 2020

A newly elected US president Joe Biden has an important opportunity to begin fresh with China, which is a major move that could benefit both countries, said by the Maurice Hank Greenberg, chairman of Starr Insurance Companies. He further added that the new US president sis no longer stranger to that issue, and therefore, we can begin a brand-new phase with that relationship.

The comments of Greenberg are important because of their experience in extending the insurance offerings of the United States into China. The 95-year old executive 1st traveled to China over 40 years ago, while helping the nation to build its first insurance operation. At that period, Mr. Greenberg was the CEO of American International Group (AIG), which has worked in China for over a century. It later implemented the 1st licensed foreign insurer in China.

AIG eliminated the series of the Chinese operations that Greenberg launched, to refund the government of the United States for a $180 billion bailout during the fiscal crisis from 2007-2009. During the interview, Greenberg motivated the new US president to respond to a congratulation message that China sent on last Friday.  He also offered some credit to the former president Donald Trump for attempting to continue trade relations between the United States of American and China, but halted limited of calling Donald Trump’s tough policies a success.

According to the newly uploaded report, the former president of the United States signed a huge amount of trade agreement with China in January that drop some American tariffs on the goods of China in exchange for pledges of Chine to acquire more US farm, manufacturing goods and energy. The deal also addressed some complaints of the United States related to the intellectual property practices.