P.F. Chang’s CEO Michael Osanloo said on Monday the Trump administration is taking the right approach in its tough stance with China.
“If you don’t start your negotiation from a tough position, you are not going to get any concessions,” Osanloo said during an exclusive interview with FOX Business’ Liz Claman.
A number of U.S. companies continue to do business in China despite the threat of losing their propriety information to the country, the second largest economy. Osanloo argues the U.S. government never took an aggressive stance against China’s business practices.
“As a nation, we’ve never actually said no. You can’t do this anymore,” he said. “We’ve never drawn a line on the sand.”
The U.S.-based casual dining chain opened its first restaurant in a mall on the iconic Nanjing Road in Shanghai.
The P.F. Chang’s CEO said the company has been able attract labor and talent with the assistance of the local community.
“The toughest part for us is make sure the supplies we get are up to our standards,” Osanloo said on “Countdown to the Closing Bell.”
Osanloo said it wasn’t difficult to get the doors open to the new restaurant in Shanghai, and the difference between dishes in China and the U.S. are portion sizes.
“It was not that draconian for us at all,” he said. “What we do differently, frankly, is that our portions are a little bit different.”
P.F. Chang’s associated itself with a well-known franchise partner who has built restaurants all across China.
“The way you want to be successful in China is you tap into the best of your knowledge, but you also tap into that local knowledge,” Osanloo said.
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