War is bad for business except for arms sales.
Firstly, when China-bashing has become a matter for newspaper headlines, American companies interested in investing in or doing business with China have to think twice before making commitments. The only consolation in the present circumstances perhaps is President George W. Bush's nomination of a commercial lawyer to be the next ambassador to Beijing, signalling that business knowledge will be as important as military expertise. The United States' negative views about China can be gleaned from the financial media's adverse portraits of Chinese corporations being listed on the New York Stock Exchange, of a Hong Kong-incorporated corporation handling the stevedoring of the Panama Canal, and of a Chinese state corporation's interest in acquiring a pier at Long Beach, not to mention sporadic grassroots sentiments relating to the boycott of products made in China. A related issue involves the American capital market, universally regarded as being well-developed, sophisticated, cosmopolitan, vast and transparent. Many Chinese enterprises consider being listed on one of the US stock exchanges as a mark of prestige and a foot in the door of the American capital market.