USCCC President sees little economic values from China hub

Intro:	As Missouri legislators have debated tax breaks for a Chinese trade hub in St. Louis, a Chinese business leader based in Chicago has somewhat different perspective on the issue.
RunTime:	0:39
OutCue:	SOC

Intro:

As Missouri legislators have debated tax breaks for a Chinese trade hub in St. Louis, a Chinese business leader based in Chicago has somewhat different perspective on the issue.

RunTime:

0:39

OutCue:

SOC

Wrap:

Siva Yam is the president of US-China Chamber of Commerce.

That's an international organization of businesses involved in Chinese American trade.

He says he doesn't see significant economic value in building a China hub in the Midwest.

Actuality:	YAM11.WAV
Run Time:	00:09
Description: "A lot of the Chinese buy from the Midwest, some of them, it would be the grain, agricultural product. But like we said, China have restriction."

Yam says shipping by air increases the cost.

Actuality:	YAM12.WAV
Run Time:	00:04
Description: "Those are low value added. If you ship them by air, they are not going to competitive."

Yam added an air cargo in the Midwest is at a disadvantage because the products can not be delivered by air.

Reporting from the state capitol, I'm Tong Gao.

Intro:	The US-China Chamber of Commerce says for the value of China hub, Missourians should look beyond the airport in St. Louis.
RunTime:	0:43
OutCue:	SOC

Intro:

The US-China Chamber of Commerce says for the value of China hub, Missourians should look beyond the airport in St. Louis.

RunTime:

0:43

OutCue:

SOC

Wrap:

US-China Chamber of Commerce President Siva Yam says Missourians shouldn't expect too much from a China hub.

Actuality:	YAM10.WAV
Run Time:	00:05
Description: "There has been an illusion that Chinese investment are coming to America and help the economy."

Yam says although he is not expecting significant economic values from the China hub, the benefits of this plan are far beyond the airport.

Actuality:	YAM8.WAV
Run Time:	00:16
Description: "It's a good news for St. Louis not from an economic perspective, but having a China hub would basically help St. Louis proceed itself to be more international in the future."

Yam says the publicity values are what St. Louis and Missouri really benefit from.

Reporting from the state Capitol, I'm Tong Gao.

Intro:	US-China Chamber of Commerce president said a China hub won't help much with job creation.
RunTime:	0:37
OutCue:	SOC

Wrap:

St. Louis Mayor Francis Slay, supporter of the China Hub plan, says the passed bill is insufficient to support international trading.

Actuality:	SLAY01.WAV
Run Time:	00:07
Description: "What's gonna happen is we are not gonna have an international trade hub in Missouri. And there could be a lot of jobs and economic opportunities that gonna be lost."

However, US-China Chamber of Commerce President Siva Yam says Missourians shouldn't expect too much from Chinese investment.

Actuality:	YAM10.WAV
Run Time:	00:05
Description: "There has been an illusion that Chinese investment are coming to America and help the economy. "

Yam says most of the investments from China are looking for research and sales opportunities, rather than hiring laborers.

Reporting from the State Capitol, I'm Tong Gao.