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Between the Hammer and the Anvil: The Unexpected Impact of U.S.-China Tensions
"The geopolitical issue must be part of the strategic plan of every startup," said Bank Hapoalim chief economist Prof. Leo Leiderman during a special conference of the Israeli Go Global forum that discussed the impact of the American boycott on China and Israeli high-tech.
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Mikey Levy
Monday, 21 September 2020, 09:12
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Photo: Reuters, Editing: Nir Chen
While US President Donald Trump is accusing China of unfair trade practices and intellectual property theft, China is growing in perception that the US is fearful and in fact trying to curb its rise as a global economic power.
Thus, while the two largest economies in the world are locked in a bitter trade struggle that has been going on for nearly four years, the question arises as to how this formidable struggle affects the local startup scene as well as Israeli high-tech companies?
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In an age where a new world order is emerging, the geopolitical issue must be part of the strategic plan of every start-up when building the business plan, "said Professor Leo Leiderman, Chief Economist of Bank Hapoalim and Professor of Economics at Tel Aviv University during the Israeli Go Global Forum China-US trade and its implications for the startup scene in Israel.
The unique entrepreneurship forum was established several months ago by Yotam Zucker and Guy Katzovich and focuses on cracking startup challenges in everything related to their global journey and breaking into the international market. Leiderman added that while five years ago This sentence would have sounded puzzling, since today it is necessarily a reality mainly due to the economic, regulatory and logistical consequences of tensions between countries.
Unexpected impact of US-China tensions (Photo: Reuters)
"When we talk about a trade war, it is clear to all of us that we mean a cold war between the powers," Leiderman said, "when we all hope that it will not degenerate into a hot war. What exists between China and the US is not a trade war "During the event, Professor Leiderman compared the situation of Israeli startups to that of a child whose parents are many:" My colleague told me that our situation is similar to that of a child whose father and mother are hostile to each other but the child wants to be okay with both and it does not always go together .
It takes a lot of emotional intelligence and a moderate attitude to optimize this situation. "
"We can see the sensitivity of the Trump administration to the issue of technological infrastructure when it comes to who prepares the world for the fifth generation. At the same time, China continues its strategy that includes the China 2025 plan that in the next five years the country will be technologically independent without importing from other countries." In different countries - and also in Israel, such as Haifa and Ashdod. "
"One of the things that characterize this situation is the lack of trust developing between the different countries, a situation not seen, and will change in the near future. The world seems to walk a new world order in which China the upper hand, the United States questioned while Europe is in kind of a question mark," he said.
Event The forum took place as part of the Fusion LA program, an acceleration program for Israeli startups in the United States (Los Angeles and Silicon Valley) that includes connections to about 200 investors and partners, as well as a follow-up program throughout the company's life in Israel and the United States. Israeli startups that raised about $ 100 million.
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