{"id":2016383,"date":"2023-08-30T04:45:01","date_gmt":"2023-08-30T08:45:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-firms-say-china-has-become-uninvestable-commerce-secretary-says\/"},"modified":"2023-08-30T04:48:48","modified_gmt":"2023-08-30T08:48:48","slug":"us-firms-say-china-has-become-uninvestable-commerce-secretary-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-firms-say-china-has-become-uninvestable-commerce-secretary-says\/","title":{"rendered":"US firms claim China is now unattractive for investment, according to Commerce Secretary."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-firms-say-china-has-become-uninvestable-commerce-secretary-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2016383&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>U.S. Commerce Secretary Gina Raimondo revealed that American companies are \u2062finding\u2062 China\u2064 &#8220;uninvestable&#8221; \u2063due to the increasing risks associated\u200b with doing business there. She made these remarks \u2062during her official \u2063visit to \u200cChina while on a train \u200dfrom \u200cBeijing\u200b to Shanghai.<\/p>\n<p>&#8220;Increasingly I hear from American business that China is uninvestible because it&#8217;s become \u200ctoo risky,&#8221;\u200b Ms. Raimondo stated.<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/article\/chinas-economy-in-grave-danger-as-growth-engines-stall-options-dwindle-2-post-5477403\">China\u2019s\u2062 Economy in\u200b Grave Danger as\u200c Growth Engines Stall, Options Dwindle<\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/23\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/article\/chinas-economy-in-grave-danger-as-growth-engines-stall-options-dwindle-2-post-5477403\"><\/a>\n        <\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/china\/analysis-china-is-heading-towards-a-decade-of-economic-stagnation-5459079\">ANALYSIS: China Headed Toward a Decade of\u2062 Economic Stagnation<\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/13\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/china\/analysis-china-is-heading-towards-a-decade-of-economic-stagnation-5459079\"><\/a>\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Secretary Raimondo&#8217;s visit to China aims to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-firms-say-china-has-become-uninvestable-commerce-secretary-says\/\" title=\"US firms claim China is now unattractive for investment, according to Commerce Secretary.\">strengthen economic ties amidst concerns<\/a> of\u200d escalating\u200b political tensions between the two countries.<\/p>\n<div style=\"margin-left:0;margin-right:0;max-width:1200px\">\n<figure style=\"width:640px;margin-left:auto;margin-right:auto\" class=\"alignnone\"><figcaption>Chinese Premier Li Qiang (R) \u200bspeaks with US\u2064 Commerce Secretary Gina\u2064 Raimondo \u2063during their meeting at\u200c the Great Hall of the People in\u2062 Beijing, on August\u2063 29, \u200d2023. (Andy Wong \/ AFP via Getty Images)<\/figcaption><\/figure>\n<\/p><\/div>\n<h2>&#8216;Raids on Businesses&#8217;<\/h2>\n<p>According to Ms. Raimondo, U.S. companies operating in\u2064 China are facing\u200b numerous challenges, including &#8220;exorbitant fines \u200bwithout any explanation&#8221; and \u200c&#8221;unclear \u2062revisions to the \u200dcounterespionage\u2063 law, which are causing concern among \u2064the \u2064U.S. community.&#8221;<\/p>\n<p>The commerce secretary highlighted the issue\u2062 of\u200b &#8220;raids on businesses&#8221; as\u2062 one of the major problems American firms encounter in China, collectively presenting\u200d &#8220;a whole new level \u200bof challenge&#8221; \u200dthat needs to be addressed.<\/p>\n<div class=\"shortcode\">\n<div class=\"lazyload-wrapper\">\n<div class=\"lazyload-placeholder\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>An example\u2063 of arbitrary\u2063 crackdowns faced by U.S. companies in China is the \u2063recent ban imposed by Beijing on American\u2062 chipmaker Micron Technology&#8217;s semiconductor\u200b sales to key Chinese domestic industries.<\/p>\n<p>Ms. Raimondo mentioned the \u200dMicron ban in her \u200dstatements to reporters, expressing concern over the lack of explanation and the\u2062 restrictions imposed without <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/burrito-excuse-not-enough-shelby-houlihan-banned-four-years-after-testing-positive-for-anabolic-steroid\/\" title=\"Burrito Excuse Not Enough: Shelby Houlihan Banned Four Years After Testing Positive For Anabolic Steroid\">proper due process<\/a>.<\/p>\n<p>The Chinese embassy in Washington has not yet responded to\u2062 the commerce secretary&#8217;s remarks.<\/p>\n<p>Ms. \u200dRaimondo&#8217;s statements highlight the significant \u200cfriction in commerce between China and the United States, including tit-for-tat export controls.<\/p>\n<p>Bilateral ties between Beijing and Washington have deteriorated this year due to\u200d various issues, such as aggressive Chinese military actions around Taiwan and allegations of spying.<\/p>\n<p>In April, Washington\u2062 implemented new restrictions on exports to \u200dChina to prevent the transfer of semiconductor and other technologies to Beijing&#8217;s military. In response, China announced export\u200d controls on two strategic metals, seen \u2064as a retaliatory move.<\/p>\n<p>In an\u200c effort to mend strained relations, Ms. Raimondo announced the establishment\u2062 of a working group on \u2063trade and investment\u2062 issues, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/secy-of-state-blinken-speaks-out-on-u-s-preparedness-to-defend-nato-member-nations\/\" title=\"Secy. of State Blinken speaks out on U.S. preparedness to defend NATO member nations\">including export controls<\/a>. However, this decision received \u2062criticism\u200c from \u2062House Foreign\u2064 Affairs Committee Chairman Rep. Michael McCaul (R-Texas), who\u200d deemed it &#8220;dangerous.&#8221;<\/p>\n<p>\u201cThe Biden administration\u2019s decision to join forces with\u200b the Chinese Communist Party to establish \u2062a working group \u200don export controls and commercial issues with CCP officials \u200bis at best naive, but also \u2064dangerous,&#8221; stated Mr. McCaul.<\/p>\n<p>Michael Hart, the president of the American Chamber of \u200bCommerce in China, responded\u2062 to Mr. McCaul&#8217;s remarks during an interview on CNBC. He downplayed the comments as \u2063a\u2063 &#8220;political take on the issue&#8221; and emphasized the importance of \u2063continued trade from \u200dthe perspective of \u2062the American Chamber of Commerce. He\u200c noted that many U.S. businesses still consider China an important market.<\/p>\n<p>Regarding Ms. Raimondo&#8217;s \u200bvisit, Mr. Hart mentioned that\u2064 she holds both &#8220;the carrot and the stick&#8221; as she oversees both trade and export controls, making the Chinese eager\u200c to engage with her.<\/p>\n<h2>Decoupling<\/h2>\n<p>Ms. Raimondo is the fourth senior\u200c U.S. official to visit China in \u2063the past 10 weeks.<\/p>\n<p>During her visit, she met several high-ranking \u2064Chinese officials and conveyed a message to Premier Li Qiang about the Biden administration&#8217;s commitment \u200dto maintaining trade ties rather than seeking to decouple.<\/p>\n<p>\u201cI have\u2062 had \u200ca\u2063 very productive visit so far,&#8221; Ms. Raimondo \u200ctold Mr. Li \u2062before their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/liberals-are-already-panicking-about-trumps-2024-plan\/\" title=\"Liberals Are Already Panicking About Trump's 2024 Plan\">closed-door sessions<\/a>. \u201cPresident Biden \u2063asked me \u2064to come here to convey a message \u200dthat we do\u200b not\u2064 seek to decouple; we seek to\u200c maintain our $700 billion commercial relationship.&#8221;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Commerce Secretary Gina Raimondo revealed that American companies find China &#8220;uninvestable&#8221; due to escalating risks. Factors like counterespionage law alterations and raids on foreign firms have contributed to this perception. Secretary Raimondo shared these concerns while traveling on a train from Beijing.<\/p>\n","protected":false},"author":118,"featured_media":2016384,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2016383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2016383"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016384"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}