China was forewarned by United States Commerce Secretary Gina Raimondo that US companies’ patience was “wearing thin” in an interview that was aired on Sunday, September 3.
Secretary Gina Raimondo
In interviews aired on Sunday, Commerce Secretary Gina Raimondo cautioned China that American industry’s patience was “wearing thin,” adding that American businesses demanded a “predictable environment and a level playing field.”
Formerly the two greatest economies in the world’s largest trading partners, Washington today does more business with the neighboring nations of Canada and Mexico. In comparison, Beijing does more business with Southeast Asia.
While recently in China, Commerce Secretary Gina Raimondo stated that despite some of the Chinese government’s positive acts, the reality needed to match the rhetoric because American firms had a great desire to make the partnership work.
In an interview with CBS’s Face the Nation, Commerce Secretary Gina Raimondo said that China is making it more difficult. She was very clear with China that they need to – patience is running out among American industry. They require and are entitled to a stable environment with fair conditions. And perhaps China will take note of that message so that the business partnership can remain stable and flourish.
According to Commerce Secretary Gina Raimondo, U.S. corporations are facing new difficulties, such as hefty fines that go unjustifiedly unpaid, business raids, and amendments to the counterespionage statute.
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The present recession in China has alarmed the international markets. The debt crisis affecting struggling developer Country Garden is currently the main topic of discussion.
Commerce Secretary Gina Raimondo told Face the Nation, without a doubt, the Chinese economy is slowing, in her opinion. And there’s no doubt that the real estate industry is facing some serious, serious difficulties.
They implied that they were unaware of it and that it wasn’t deliberate, but she believes it was crucial that she brought it up and informed them that it is challenging to earn their trust when they take on such activities.
According to Commerce Secretary Gina Raimondo, China’s economy performed better when it was more open and market-based.
In addition, Commerce Secretary Gina Raimondo said that she informed Chinese officials of the hacking of her email before her trip to China in late August.
Commerce Secretary Gina Raimondo said, that the economy is facing significant difficulties as a result of their closures and increased arbitrariness in how they enforce regulations.
Commerce Secretary Gina Raimondo said, that in every conversation she had with her Chinese counterparts, she was very direct, frank, and firm.
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