WASHINGTON: US Commerce Secretary Gina Raimondo cautioned China in interviews on Sunday( Sep 3 ) that US businesses’ patience was” wearing thin ,” saying they deserved” predictable environments and a level playing field.”
Previously, the two largest economies in the world were each other’s main trading associates. Today, Beijing trades more with Southeast Asia, while Washington does more business with its neighbors, Canada and Mexico.
While late in China, Raimondo claimed that US businesses had a strong desire to improve the relationship and that, despite some of the Chinese government’s good actions, the reality needed to match the rhetoric.
According to a pre-broadcast text, Raimondo told CBS’s Face the Nation that” China is making it more difficult.” I made it very clear to China that we needed to act quickly because British company is losing patience. They require and merit a stable setting and an even playing field. And finally China will take that advice to heart so that our business relationship can continue to grow.
According to Raimondo, US firms were now dealing with new difficulties, including unknown high fines, business raid, and changes to counterespionage laws.
She told CNN that she was” quite clear, strong, and strong in all of my discussions with my Chinese rivals.” ” I didn’t hold back any blows. I didn’t accept everything, and Raimondo added that she had informed Chinese officials that her email had been compromised before she left for China in late August.
She told CNN,” They suggested that they didn’t hear about it and that it wasn’ten intentioned.” However, I believe it was crucial that I bring it up, inform them, and convey to them that acting in such a way makes it difficult to establish respect.
With the attention now firmly fixed on troubled developer Country Garden’s spiraling debt problems, which accounts for about 25 % of the business, China is dealing with a decline that has rattled international markets.
There is no doubt, in my opinion, that( China’s economy ) is slowing down. And without a doubt, they are facing extremely difficult issues in the real estate industry, she told Experience the Nation.
According to Raimondo, a more open and market-oriented economy was better for China.
The market is quite in trouble, she said,” as they have shut down and become more subjective in the way they administer regulations.”