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Biden’s statements about China ‘less worrying’ than Trump’s: Yum China CEO

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Yum China CEO Joey Wat joins 'Influencers with Andy Serwer' to discuss relations between the U.S. and China and how politics can impact her business.

Video Transcript

ANDY SERWER: We have a new president here, of course. And I'm wondering if there is a shift that you notice in any way since President Biden has taken office. And do you expect any change going forward because of that?

JOEY WAT: Well, I mean, both countries, China and US, are very big countries. And both countries are great countries. In terms of change since the new administration came to the office, I think one change-- it's a bit subtle-- is I think is the sentiment became less worrying.

Because sometimes certain statements from the previous President of the United States might cause, you know, some thoughts and some sort of a challenge in terms of interpretation of the meaning, et cetera. So I think that has been an improvement.

Although going forward, there's still some sort of a set of order made before-- they are still there. You know, from a business point of view, you know, as a business person, as a company operating in China, we certainly want to see a bit more clarity and also more communications between the two countries.

I do believe sometimes-- this is just my own learning in the last many years, because I spent 10 years in the UK running business there-- I do believe sometime cultural difference is a bit overrated, because I do see the possibility and the opportunity when we try to understand it better, we can find a common sense, which is what I call the best British virtue is the common sense. And we all have common sense because we are all very intelligent people.

So the cultural difference is just one layer. But if we go deeper, then we can find a common ground. So I'm optimistic.