Frederick Smith on China
From 2019 Distinguished Leadership Awards - Frederick W. Smith, CEO of FedEx · · AtlanticCouncil
“China's economic growth has been unprecedented in the history of the world since the financial crisis of 2008 and 9 China has significantly changed its posture from a purely commercial orientation to one that is much more geopolitical with such initiatives in made in China 2025 indigenous innovation a rapid expansion of bases in the South China Sea and a major buildup of its Navy.”
On , Frederick Smith, Former Founder, Chairman & Chief Executive Officer at FedEx, spoke about China during 2019 Distinguished Leadership Awards - Frederick W. Smith, CEO of FedEx on AtlanticCouncil.
About Frederick Smith
Frederick Smith, founder and former CEO of FedEx, has continued to comment on trade, economic policy, and supply chain issues in public appearances. In a January 2023 conversation at MIT, Smith said he was personally disappointed by China's shift toward a "state directed Mercantile path" after he had pushed for its entry into the WTO. He also stated that "work is now optional" in the U.S., attributing inflation and slow growth to a lack of blue-collar labor willing to work. Smith expressed support for a carbon tax and said FedEx does not view Amazon as a direct competitor. In earlier appearances, Smith advocated for infrastructure investment, calling the 2021 bipartisan infrastructure bill "a step in the right direction." He said the U.S. should not abandon the Trans-Pacific Partnership but improve it, and warned that withdrawal from NAFTA would have "massive repercussions." Smith has repeatedly called for lowering the U.S. corporate tax rate and adopting a territorial tax system, arguing that the current code discourages investment. He also stated that 85% of U.S. job losses over the past 25 years were due to automation, not trade.