U.S. Commerce Secretary expresses concerns about American companies’ investments in China

One sentence summary – U.S. Commerce Secretary Gina Raimondo has expressed concerns about American companies investing in China due to fines and raids against firms, describing China as “uninvestable” and too risky, although she also emphasized the importance of collaboration between the two countries on global issues such as climate change and artificial intelligence.

At a glance

  • U.S. Commerce Secretary Gina Raimondo expresses concerns about American companies’ investments in China
  • Concerns stem from fines, raids, and other actions against firms operating in China
  • Raimondo describes China as “uninvestable” and too risky for American businesses
  • Companies are actively seeking alternative opportunities and countries to invest in
  • Raimondo criticizes actions taken against chipmaker Micron Technology, citing lack of transparency and fairness

The details

U.S. Commerce Secretary Gina Raimondo has voiced concerns about American companies’ investments in China.

These concerns are primarily due to fines, raids, and other actions taken against firms operating in China.

Raimondo has described China as “uninvestable” and too risky for American businesses to continue investing in.

Alternative Opportunities

During her visit, Raimondo noted that many companies are actively seeking alternative opportunities and countries to invest in.

This is due to the challenges they face in China.

Criticizing Actions Against Micron Technology

Specifically, Raimondo pointed out the actions taken by Chinese authorities against chipmaker Micron Technology.

She believed these actions lacked a clear rationale.

Raimondo criticized the limited due process observed in these actions.

She suggested a lack of transparency and fairness.

Despite these concerns, Raimondo expressed a desire for the United States and China to collaborate on global issues.

Collaborative Approach

These issues include climate change and artificial intelligence.

This collaborative approach aligns with the broader goals of the Biden administration.

The administration aims to strengthen communication and cooperation between the two countries.

This is particularly true in the areas of economy and defense.

Raimondo’s visit to China is part of the ongoing efforts by the Biden administration to foster stronger ties between the United States and China.

The administration aims to improve communication channels.

It also aims to promote cooperation on various fronts.

The administration acknowledges the strategic importance of both countries working together.

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cnbc.com
– U.S. Commerce Secretary Gina Raimondo stated that American companies have expressed concerns about investing in China due to fines, raids, and other actions against firms.
– Raimondo described China as “uninvestable” and too risky for American businesses.
– She mentioned that businesses are seeking alternative opportunities and countries to invest in.
– Raimondo highlighted that Chinese actions against chipmaker Micron Technology lacked a rationale and criticized the limited due process.
– Raimondo expressed the desire for the United States and China to collaborate on addressing global issues such as climate change and artificial intelligence.
– Raimondo’s visit to China is part of the Biden administration’s efforts to strengthen communication and cooperation between the two countries, particularly in the areas of economy and defense.

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