Chinese market critical to US firms, says business body

The Chinese market is critical to US enterprises, and the two countries need to find ways to cooperate with each other, said Matthew Margulies, vice-president of China operations of the US-China Business Council. Given China's GDP growth, Margulies said he believes the country will contribute close to 30 percent of global GDP growth for the next 10 years, and thus it is critical for US companies to be present in China. "You can't be a globally competitive company without being in China," he said.