{"id":2016646,"date":"2023-08-30T11:50:02","date_gmt":"2023-08-30T15:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-commerce-chief-leaves-china-on-upbeat-note-after-uninvestible-remark\/"},"modified":"2023-08-30T11:52:49","modified_gmt":"2023-08-30T15:52:49","slug":"us-commerce-chief-leaves-china-on-upbeat-note-after-uninvestible-remark","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-commerce-chief-leaves-china-on-upbeat-note-after-uninvestible-remark\/","title":{"rendered":"US Commerce chief departs China with positive outlook despite previous &#8220;uninvestible&#8221; comment."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/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-commerce-chief-leaves-china-on-upbeat-note-after-uninvestible-remark%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=2016646&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 class=\"entry-content\">\n<p><strong>By David \u2062Shepardson<\/strong><\/p>\n<p><strong>SHANGHAI (Reuters) &#8211;<\/strong> U.S. Commerce Secretary Gina Raimondo talked up American firms\u2019 desire to do business in China and her hopes for further engagement with Chinese officials on market access on Wednesday, after earlier comments \u2062over China being \u201cuninvestible.\u201d<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>At a press conference in Shanghai, Raimondo said \u200dshe had\u200c not expected any \u200bbreakthroughs on issues affecting U.S. firms such as Intel, Micron, Boeing, Visa and Mastercard in her first meetings with Chinese officials, but did hope to \u201csee some results\u201d in the next few months as a result \u200bof her four-day visit \u2063to \u2064Beijing and Shanghai.<\/p>\n<p>Raimondo said there was strong appetite among U.S.\u200c businesses to make\u2062 the relationship work and\u2063 that, while some actions of the Chinese government have been positive, the situation on the ground needed to match the rhetoric.<\/p>\n<p>\u201cThere is appetite among U.S. business to\u2064 continue to do \u2063business (in China). The market is enormous,\u201d she said. \u201cU.S. businesses want to\u2063 do business here but they need to have a predictable regulatory environment.\u201d<\/p>\n<p>The commerce secretary is the latest Biden administration official to visit China in\u200d a bid to strengthen communications, particularly on economics and defence, amid concern that friction between the two superpower\u200c could spiral \u2062out of control.<\/p>\n<p>Raimondo insists the U.S. does not want to decouple from China. \u201cI am leaving with some optimism,\u201d Raimondo said of agreements to continue dialogue on a lot of tough\u2064 issues. \u201cWe can\u2019t drift to a place of greater of conflict. It\u2019s \u2062not good for the U.S., it\u2019s not \u200cgood for China, it\u2019s\u200d not\u200d good for \u2064the \u200bworld.\u201d<\/p>\n<p>On Tuesday \u200dshe had told reporters on \u2064a high-speed\u2064 train\u200c to Shanghai from Beijing that American companies had complained to her that China has become \u201cuninvestible,\u201d pointing to \u2063fines, raids and other actions that have made it risky to do business in the world\u2019s \u200csecond-largest economy.<\/p>\n<p>On Wednesday she said: \u201cFor U.S. business in many cases patience is running thin and it\u2019s time for action.\u201d<\/p>\n<p>Raimondo said she had raised with Chinese officials that her emails had been hacked and \u2064said that was an\u200d \u201caction that erodes trust.\u201d Reuters reported in July that Raimondo was among a group of U.S. officials whose emails were hacked earlier this year \u200cby a group Microsoft says \u2063is based in China.<\/p>\n<p>Her comment on the difficulties\u200c U.S. businesses face has \u2062shone a harsh light\u2064 on trade and investment\u200b flows \u200cbetween the geopolitical rivals.<\/p>\n<p>\u201cThe essence \u2062of China-U.S. economic and trade\u200c relations is mutual benefit,\u201d Wang Wenbin, a Chinese Foreign Ministry spokesperson, said on Wednesday, citing Premier Li Qiang\u2019s remarks during his meeting with Raimondo on Tuesday.<\/p>\n<p>\u201cPoliticizing and securitising economic and trade issues not only seriously affects the relationship and mutual trust between the two countries, \u200dit also \u2064harms the \u2064interests of their businesses and peoples,\u201d he added.<\/p>\n<p>Companies have been at the center of a power struggle \u2062between the two countries \u2063for several years. China has criticised U.S. efforts to block China\u2019s\u2063 access to advanced semiconductors through \u2062export controls.<\/p>\n<p>Raimondo said export control dialogue was to reduce misunderstandings.<\/p>\n<p>\u201cWe were able clarify at the first \u2062meeting that we are not targeting China,\u201d she said. \u201cWe\u2019re targeting actions and behaviour that undermine U.S. national security.\u201d She reiterated \u2063on Wednesday\u2063 that the\u2063 United States is not willing to negotiate \u200bor change export controls.<\/p>\n<p>INVESTMENT FLOWS<\/p>\n<p>The two biggest economies in the world used to be \u2064each other\u2019s largest trade partners, but Washington is now trading more with neighbouring Canada and \u2062Mexico, while Beijing\u2064 is trading more with Southeast Asia.<\/p>\n<p>Global investors, who have been spooked by unpredictable crackdowns in China on sectors from e-commerce\u2064 to education in recent years, have also been streaming out of Chinese assets lately.<\/p>\n<p>Foreign net selling of 82.9 billion yuan ($11.4 billion) in Chinese stocks this month is a record outflow. Corporate investment is also going missing, with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-causing-a-massive-f-up-for-private-evac-flights-out-of-afghanistan-organizer-says\/\" title=\"Biden Admin Causing \u2018A Massive F*** Up\u2019 For Private Evac Flights Out Of Afghanistan, Organizer Says\">foreign direct investment<\/a> (FDI) at \u200bits lowest since <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-commerce-chief-leaves-china-on-upbeat-note-after-uninvestible-remark\/\" title=\"US Commerce chief departs China with positive outlook despite previous \"uninvestible\" comment.\">records began 25 years ago<\/a>.<\/p>\n<p>Michael Hart, president of \u2062the American Chamber of Commerce in China, said businesses had been \u201cvery\u200b clear\u201d \u200bin making their concerns known to the Chinese government.<\/p>\n<p>\u201cCertain actions, including raids on companies and restricting data flows, are not \u200bconducive to attracting additional FDI,\u201d Hart said.<\/p>\n<p>That\u200d sentiment was echoed by\u2062 Jens Eskelund, president of the European Union Chamber of Commerce\u2063 in \u200bChina, who said \u201c\u2018uninvestible\u2019 is not a term\u2064 we would use to describe \u200cChina,\u201d instead describing it as \u201cunder-invested\u201d.<\/p>\n<p>\u2018WHOLE NEW\u2062 LEVEL OF CHALLENGE\u2019<\/p>\n<p>Raimondo said U.S. firms were \u2063facing new challenges, among them \u201cexorbitant fines without any explanation, revisions to the \u200ccounterespionage law,\u200d which are unclear and \u200bsending shockwaves through the U.S. community; raids on businesses \u2013 a whole new level of challenge and we need that\u2064 to be addressed.\u201d<\/p>\n<p>Raimondo, in opening remarks at a meeting on Wednesday morning with \u200cShanghai \u200dCommunist Party Secretary Chen Jining, struck a positive tone,\u2063 saying\u200c she wanted to discuss \u201cconcrete ways that we can work together to accomplish business goals and to bring about a more predictable business environment, \u2063a predictable regulatory environment and a level playing\u2064 field for American businesses.\u201d<\/p>\n<p>Chen said a stable relationship between China and the United States was crucial for\u200c the world, adding that Shanghai had the highest concentration \u200bof U.S. businesses in China. <\/p>\n<p>On Wednesday \u200bafternoon, the commerce secretary visited Shanghai Disneyland and a\u200d Boeing facility in the city, touting two prominent American exports. <\/p>\n<p>Disney\u2063 has emphasized its Chinese links\u200c since Shanghai Disneyland \u2013 a joint venture with state-owned Shendi Group \u2013 opened in 2016.<\/p>\n<p>Raimondo, who has said China was blocking tens of billions of dollars \u200cin deliveries of Boeing airplanes\u2062 to Chinese \u200cairlines, on Tuesday said she\u2062 raised the airlines\u2019 refusal to accept delivery of Boeing 737 MAX airplanes but won no commitments.<\/p>\n<p>  (Reporting by David Shepardson in Shanghai; additional reporting by Nicoco Chan and\u200c Jason Xue in Shanghai and Joe Cash, Martin Quin Polland, Yew Lun Tian and Laurie Chen in\u200d Beijing; Editing by Sandra Maler, Robert Birsel, Alex Richardson and Daniel Wallis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/china-says-easing-market\/attachment\/u-s-commerce-secretary-raimondo-visits-shanghai\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>New reports from the\u2062 National Archives reveals that President Joe Biden could have used fake names in over five-thousand e-mails<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Idalia \u200churdles towards Florida, while the Gadsden Flag is apparently racist<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>45th President Donald \u2064Trump is set to face a trial in March of 2024 in his January \u20646th case.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Three weeks since the deadliest modern U.S. wildfire\u200c began in Maui\u2019s Lahaina. \u200cHawaiian Electric recently responded to Maui county\u2019s lawsuit, \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-j6-trial-set-for-march-2024-one-day-before-super-tuesday\/\" title=\"Trump's J6 trial scheduled for March 2024, just before Super Tuesday.\">admitting \u2063power lines sparked<\/a>\u200b the first fire in Maui, but not the second fire in Lahaina that has killed 115 officially and destroyed 2,000 structures.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>NEW DELHI (Reuters) \u2013\u200b At\u2063 least 32 international electronics companies have applied to India\u2019s incentive programme to make laptops, tablets and \u2063servers\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>NEW DELHI (Reuters) \u2013 At least 32 \u2063international electronics companies have applied to India\u2019s incentive \u2064programme to make laptops, tablets and servers\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Lewis Krauskopf NEW YORK (Reuters) \u2013 Nvidia Corp\u2019s soaring rally has thrilled investors this year \u2013 except for the sizeable number\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Lewis Krauskopf NEW YORK (Reuters)\u200c \u2013 Nvidia Corp\u2019s soaring rally has thrilled investors this year \u2013 except \u200bfor\u200d the sizeable number\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>negative impact on American companies doing business in China due to her previous comments. She expressed optimism about future discussions with Chinese officials regarding market access. Raimondo emphasized the importance of maintaining a strong economic relationship between the two countries.<\/p>\n","protected":false},"author":66,"featured_media":2016647,"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":[542],"tags":[],"class_list":["post-2016646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"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\/2016646","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\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2016646"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016647"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}