[WASHINGTON] Fallout from the trade war between the United States and China has prompted Michael Bloomberg, the billionaire media executive and former mayor of New York City, to relocate what was planned as a conference of global business and political leaders in Beijing to rival Davos, the elite annual conclave in Switzerland.<\/p>\n
Organizers in New York are moving the event to Singapore, where it is to take place over two days in the first week of November. Bloomberg made the decision after a Chinese partner asked organizers last week to postpone the event, according to people with knowledge of the planning.<\/p>\n
Instead, the partner told organizers, President Xi Jinping and other leaders in China want to spotlight an import expo in Shanghai to bolster international interest in trade with the country.<\/p>\n
The move highlights the difficulty of conducting business \u2013 or diplomacy \u2013 in China, both because of rising tensions with the United States and because of an accelerating move toward hard authoritarianism under Xi. The relationship between Washington and Beijing has become increasingly fraught because of the trade war started by President Donald Trump over the summer, and Chinese officials are more likely to question US-led events in China, even those that aim to bring business leaders there.<\/p>\n