Malaysian businessman Vijay Eswaran is the executive chairman of the board of directors for QI Group, a company he established in 1998. His company, based in Hong Kong, sells many products including personal care, weight management, fashionable accessories, nutritional supplements, energy, and home care. QI Group’s products are sold in many nations including across Eastern Europe, Africa, the Middle East, and Southeastern Asia. He is also a public speaker and philanthropist.
As an international businessman, Vijay Eswaran weighed in on the tit-for-tat tariff fight going on between the United States and China. Looking at Donald Trump’s position he summed it up as, “…when you are down, you can’t lose!”. He said that China doesn’t really have a whole lot to retaliate with given they only buy around $130 billion in American goods each year. The United States, meanwhile, has an additional $400 billion that they could tariff.
Vijay Eswaran says, though, the trade relationship between the United States and China is so complicated, especially when it comes to the technology sector, that he doesn’t think the feared doomsday scenario is likely to happen. The largest issue is the Made in China 2025 initiative. In that initiative, they require foreign companies who want to do business in China to transfer technology to Chinese firms. There is also no intellectual property protections in China.
He says that if Donald Trump wants to actually beat China than how he’s going about it is completely wrong. Vijay Eswaran says that it is in America’s best interests to instead strengthen its traditional international alliances and work with them to address the grievances with China that they all have. Trump needs to act quickly, though, because if things drag out beyond the midterm elections at that point America’s political landscape is going to experience a huge shift which could favor China.