CMG-hosted dialogue in US explores global opportunities in China's reform, modernization

China Media Group (CMG) hosted a forum in New York on Monday, featuring nearly 100 guests from American think tanks, business, and academic circles for in-depth exchanges on global opportunities arising from China's deepening reform and modernization.

Themed "Global Opportunities in Deepening China's Reform in the New Era," the event was held to share insights on the just-concluded Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) in Beijing.

Guests unanimously agreed that the third plenary session will make strategic deployment on deepening reform further across the board and advancing Chinese modernization, while bringing greater certainty to a world fraught with turbulence and change.

"China's economy is getting close to 20 percent of the world GDP, so anything that happens in China economically affects the world. China has made a very big effort to engage with the world through various initiatives, the Belt and Road Initiative is the most well-known, dealing with building infrastructure, then the Global Development Initiative, which builds upon that and brings benefit to lots of developing countries in areas of education, healthcare," said Robert Lawrence Kuhn, chairman of the Kuhn Foundation.

"If we are to become again a major industrial power, and most of the people in the country would like that to happen, it can only be done in cooperation with China, which right now is the motor for the world economy. And I think that's important, to get the message out of what happened at the third plenary (session) to the American people. I think is very important not only for China, but it's also important for America," said William Jones, former Washington Bureau chief of U.S. news magazine Executive Intelligence Review.

On Tuesday, reports on the dialogue in New York have been widely reposted by over 1,500 mainstream media outlets from 72 countries and regions worldwide, including the U.S., Britain, Italy, Germany, Spain, Japan, South Korea, the United Arab Emirates, and India.

In the near future, the event will continue to be held in various countries across Europe, the Middle East, Latin America, Africa, Southeast Asia, and Eurasia.

CMG-hosted dialogue in US explores global opportunities in China's reform, modernization

CMG-hosted dialogue in US explores global opportunities in China's reform, modernization

Wine companies in Italy are anxious as U.S. President Donald Trump signed an executive order on the so-called "reciprocal tariffs," imposing a 20-percent tariff on the European Union.

Giulia D'Alema, head of a family-owned wine business in Italy's Umbria region, is facing significant uncertainty for the upcoming wine sales season following the announcement of tariffs on EU products, including wine.

Her family's 7.5-hectare vineyard has completed its major annual tasks — trimming, tying, and weeding — to ensure healthy grape growth and a fruitful harvest.

However, despite these preparations, D'Alema is troubled by the looming threat of new tariffs on Italian wines exported to the United States.

The United States is a key market for Italian wines, with exports valued at approximately 2 billion euros in 2024 alone.

Yet, the announcement by U.S. President Donald Trump has put this vital export market at risk.

"If tariffs are imposed, U.S. importers won't be able to import my wine because selling my rose will no longer be profitable for them. I've already increased production specifically for this (U.S.) market, so now I have to find other ways to absorb this surplus," said D'Alema.

In the wine-producing region of Umbria in central Italy, it is the small and medium-sized wineries that are hit the hardest. Large enterprises can mitigate risks by adjusting their market strategies, but small family-owned businesses often rely on a single market. The imposition of tariffs creates a great deal of uncertainty for their operations.

In 2024, Italy's bottled wine exports to the United States reached 1.94 billion euros. According to calculations by the largest agricultural association in Italy, the Italian Confederation of Farmers (CIA), if tariffs prevent Italian wines from being exported to the United States, Italian wineries could face daily losses of 6 million U.S. dollars.

Trump's 20 pct tariffs on EU raise concerns for Italian wine export