"Two-way trade last year was about $600 billion between the U.S. and China, which supports, according to the U.S.-China Business Council, about 2.6 million jobs in the United States," Mr. Kennedy said at the think tank's event Wednesday. "The U.S. now has about $230 billion invested in China and last year Chinese investment in the United States was about $120 billion. That has continued to rise and is now far greater than the annual flows in the other direction."
"China's stock market reflects economic fundamentals in China the way Donald Trump reflects the quality of democracy in the United States: There's only a loose resemblance between the two," said Mr. Kennedy. "In other words, it's hard to read the market developments alone as an indication of what's going on with the wider economy."