US firms stick to China amid dim global trade outlook

"China looks like it could be the biggest engine of global GDP growth in 2020 and maybe 2021. We want American companies to benefit from that absolutely," said Craig Allen, president of the U.S.-China Business Council. Allen pointed out that China's commitment to cut back on regulatory measures is of greater long-term significance to U.S. companies, and "there have been very significant regulatory changes in intellectual property rights, agriculture and financial services."