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Forum » US commerce secretary warns China will be ‘uninvestable’ due to raids
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Thread: US commerce secretary warns China will be ‘uninvestable’ due to raids

post 1689296943 08-31-2023, 05:30 PM
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US commerce secretary warns China will be ‘uninvestable’ due to raids

Keep raiding western businesses until they all leave, thank you China.

US commerce secretary warns China will be ‘uninvestable’ without action on raids, fines
SHANGHAI (AP) — Commerce Secretary Gina Raimondo on Wednesday said she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action toaddress complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior.

Raimondo’s comments add to pressure on Chinese leader Xi Jinping’s government, which is trying to revive investor interest and reverse an economic slump. Business groups say confidence among foreign companies is at an all-time low. Official figures show foreign investment plunged in the latest quarter.

Raimondo visited Beijing as part of U.S. efforts to restore relations that plummeted to their lowest level in decades due to disputes about technology, security, Taiwan and other issues. She called her meetings with China’s No. 2 leader, Premier Li Qiang, and other officials “very productive” but said she “didn’t pull any punches” in conveying business complaints.

Raimondo said CEOs ahead of her trip told her they face increased pressure from Beijing’s expansion of an anti-spying law this year, raids on some firms, tighter controls on data and lack of information about rule changes.

“My point was U.S. business needs to see some action taken to address these issues. Otherwise, they will deem it as just too risky and, as I said, uninvestable,” Raimondo told reporters at a Boeing Co. joint venture in Shanghai’s eastern district of Pudong.

Foreign direct investment in China fell 89% from a year earlier in the three months ending in June, according to official data. Most investment is believed to be brought into the country by Chinese companies disguised as foreign money to get tax breaks and other incentives, but business groups have warned foreign companies are withholding new spending until their status is clearer.

“Patience is wearing thin,” Raimondo said. She said conditions for companies that have complained for years about technology theft and official favoritism toward Chinese competitors are “becoming in some ways even tougher.”

Economic growth slid to 0.8% compared with the previous quarter in the three months ending in June from the January-March period’s 2.2%. That is equal to an annual rate of 3.2%, which would be among China’s weakest in decades.

[continued...]
https://apnews.com/article/china-uni...db0d59d4a05ed7
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post 1689297983 08-31-2023, 05:52 PM
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Where will all these companies go? India? Brazil? South East Asia?
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post 1689298173 08-31-2023, 05:56 PM
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A lot of companies are sourcing out of China.


And this is not some short term thing. A company to move its supply chain to another source is doing so thinking the new supply chain is going to be there for years, if not a decade.


Nobody likes China. They are scummy and untrustworthy. This is why they will never be the #1 superpower in the world.
post 1689298333 08-31-2023, 05:58 PM
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Originally Posted By leafs43⏩
A lot of companies are sourcing out of China.


And this is not some short term thing. A company to move its supply chain to another source is doing so thinking the new supply chain is going to be there for years, if not a decade.


Nobody likes China. They are scummy and untrustworthy. This is why they will never be the #1 superpower in the world.
This. Certainly nobody is going to rely on them as a global currency.
post 1689298713 08-31-2023, 06:04 PM
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Originally Posted By leafs43⏩
A lot of companies are sourcing out of China.


And this is not some short term thing. A company to move its supply chain to another source is doing so thinking the new supply chain is going to be there for years, if not a decade.


Nobody likes China. They are scummy and untrustworthy. This is why they will never be the #1 superpower in the world.
They're nepotism oriented and not disciplined towards human rights of outsiders. They're growing and changing from less rigid of tradition than other Asian countries.
post 1689299473 08-31-2023, 06:19 PM
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The propaganda is intensifying against China. The reality is that it is too late. The future is in the East and South, with China, Russia, India, Saudi Arabia, Iran, Brazil, etc. The American propaganda is so absurd and transparent. BRICS+ is the start of a true multipolar world, dedollarization, and Counter-Enlightenment thought becoming reality ( anti-imperialism, anti-colonialism, anti western modernity, etc.). The Jews bled the West dry and are now trying to get their filthy Jew claw into the East. Let's hope they fail.
Pro-Palestine, Pro-China, Pro-Iran, Pro-Russia, Pro-Venezuela
post 1689299573 08-31-2023, 06:20 PM
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Translation: not even China wants the dollar anymore
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post 1689305983 08-31-2023, 09:04 PM
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China tries to create this BRICS currency trying to crush the US Dollar. They were backing Russia. They want to make threats and talk about invading another country. I don't think they realized what they did. They bit the hand that fed them. China's economic growth over the years has not come from home grown internal innovation, it has come from them providing cheap labor for western nations' industry.

Build your economy on BRICS, here comes the Kool-Aid-Man.
post 1689312763 09-01-2023, 01:07 AM
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i'd rather have china running things than zog
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post 1689316593 09-01-2023, 04:47 AM
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Originally Posted By Jasonw1178⏩
China tries to create this BRICS currency trying to crush the US Dollar. They were backing Russia. They want to make threats and talk about invading another country. I don't think they realized what they did. They bit the hand that fed them. China's economic growth over the years has not come from home grown internal innovation, it has come from them providing cheap labor for western nations' industry.

Build your economy on BRICS, here comes the Kool-Aid-Man.
Good post boyo.
Early AM workout crew.
Holy crap dude, Satan's huge crew.
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