上海美国商会期刊 - 2026年春季

T h eJ o u r n a l o f t h e A m e r i c a n C h a m b e r o f C o m m e r c e i n S h a n g h a i-I n s i g h t S p r i n g 2 0 2 6 Where momentum meets frictionin China’s global trajectory BUSINESS P.17Jing Yuan of Polestar onbuilding a global EV brand ECONOMY P.05Citigroup’s Xiangrong Yu onChina’s uneven economicrecovery CHAMBER P.35Lafayette 148 New York onits luxury journey INSIGHT The Journal of the American Chamber of Commerce in Shanghai - Insight Spring 2026 AMCHAM SHANGHAI ECONOMY PresidentERIC ZHENGVP of Administration & FinanceHELEN RENVP of Corporate & CommercialKAREN YUEN Breaking the K: Fixing China’s Uneven Economic RecoveryXiangrong Yu of Citigroup examines the divergence between macro resilience and weak micro-level sentiment05 DirectorsBusiness PartnershipLEON TUNG POLICY CommitteesJESSICA WUCommunications & PublicationsRACHEL RAPAPORT Stability in Tension: Charting the New Normal in US–China CompetitionDamien Ma of Carnegie China on managing bilateral strategic rivalry09 EventsKAREN QIUGovernment RelationsMARK WANG How US Protectionism Is Reshaping China's Economic Reach in VietnamMarco Förster of Dezan Shira & Associates and Edmund Malesky of Duke University unpack howtariffs are accelerating China–Vietnam supply chain integration13 INSIGHT BUSINESS Polestar: The Nordic EV Brand Between Two WorldsJing Yuan of Polestar on building a global EV brand between European heritage and China’s17 Senior AssociateQINLY WU manufacturing scale DesignGABRIELE CORDIOLI Watt's Next? The Global Expansion of EVsTu Le of Sino Auto Insights shines a light on the key challenges of electrification around the world22 PrintingSNAP PRINTING, INC. Chinese Companies in Africa: Lessons from ArchaeologyScott MacEachern of Duke Kunshan University reflects on cultural heritage management in central Africa28 INSIGHTSPONSORSHIP Are Businesses Ready for China’s New Wellness Era?Falk Fuhrmann of brand innovation consultancy Huí//Lüè discusses how companies areresponding as wellness becomes a decision paradigm for consumers31 (86 21) 6169-3000Story ideas, questions orcomments on Insight: Please contactrachel.rapaport@amcham-shanghai.org Insight is the quarterly publication of theAmerican Chamber of Commerce in Shanghai.Editorial content and sponsors' announcementsare independent and do not necessarily reflectthe views of the governors, officers, membersor staff of the Chamber. No part of thispublication may be reproduced without writtenconsent of the copyright holder. CHAMBER Luxury Without Borders: Lafayette 148's Unique Fashion JourneyLafayette 148 New York on redefining modern luxury through global craftsmanship andtimeless design35 27F Infinitus Tower168 Hubin RoadShanghai, 200021 Chinatel: (86 21) 6169-3000www.amcham-shanghai.org CHAIR’SNOTE I am writing this note as we navigate aperiod of sustained uncertainty for ourbusiness community. Even though thefocus of our work might relate to therelationship between the US and China,we are all affected by instability in otherparts of the world. fodder for conversation during the galabanquet. Thisissue offers a rich set of per-spectives.Xiangrong Yu of Citigroupand Damien Ma of Carnegie China offersharp analysis of China’s economic andpolicyenvironments.Their interviewssharewell-informed perspectives oneverything from the 15th Five-Year Plantothe current US-China geopoliticalbalance. At times like these, the Chamber isan especially valuable resource, facili-tating the candid exchange of reliableinformation among members at a timewhen it is harder to have confidence inthe quality of the data available. And itdoes an outstanding job in amplifyingourcollective voice—conveying ourshared needs and preferences when itis challenging to express those needsand preferences individually. We also look into Vietnam’s shiftingrole in global trade, and its strength-ening commercial ties with China, withMarco Förster of Dezan Shira & Asso-ciatesand Edmund Malesky of DukeUniversity.On the topic of Chinesecompaniesexpanding abroad,ScottMacEachern of Duke Kunshan Universi-ty draws on his archaeology experiencewith Chinese firms in Africa. This year is, of course, an especiallyauspicious one for American business-es in China. This summer we celebratethe 250th anniversary of the founding ofour nation. Back in 1776, the “Americanexperiment”— defining a country by ashared set of ideals rather than sharedorigin — was a radical idea. At the time,these were ideals that America did notyet embody; there was little reason toexpect much success. At the same time, the current issueprovides fascinating stories in severalkeyindustries.As Chinese EVs dom-inate globally, we talk to Jing Yuan ofPolestar on how the brand is positioningitself between European legacy auto-makers and Chinese EV competitors. Tounderstand the global EV outlook andthekey challenges of electrificationacrossdifferent markets,you shouldread the interview with Tu Le of SinoAuto Insights. JEFFREY L