Posted on 08/30/2023 7:03:35 PM PDT by anthropocene_x
U.S. Commerce Secretary Gina Raimondo said Tuesday that American companies have complained to her that China has become “uninvestable” as the level of risk associated with doing business there has spiked amid factors such as changes to counterespionage laws and raids on foreign firms.
U.S. companies doing business in China face a host of new challenges, including “exorbitant fines without any explanation” and “revisions to the counterespionage law, which are unclear and sending shockwaves through the U.S. community.” One example of seemingly arbitrary crackdowns U.S. companies face in China was a recent ban by Beijing of American chipmaker Micron Technology semiconductor sales to key Chinese domestic industries.
“I have had a very productive visit so far,” Ms. Raimondo told Mr. Li ahead of closed-door sessions. “President Biden asked me to come here to convey a message that we do not seek to decouple; we seek to maintain our $700 billion commercial relationship with China.” “While we will never compromise in protecting our national security, I want to be clear that we will never seek to decouple or hold China’s economy back,” Ms. Raimondo said at the start of the meeting.
(Excerpt) Read more at ntd.com ...
POh no, China is going to take over the world with a brick and some kinda belt.
The TV said so.
.
Bad news is coming on a global level soon enough.
“...face a host of new challenges, including “exorbitant fines without any explanation...” Perhaps the chicoms have studied Hunter Xiden shakedowns around the world and decided a little action for themselves will go unpunished.
The West must get out of that Chinese communist hell-hole as soon as humanly and technically possible.
Bring OUR jobs back home, let’s end unemployment. Make America and the West great again.
It’ll take some time and might be a tad costly in the beginning of the process. But it will give us total true independence and THAT is priceless!
The idiots that are still there will end up losing their investments and perhaps even their lives.
China has an atrocious birth rate because the people there do not want kids. They’ve been conditioned for 50 years not to have them, so they don’t.
They get old and there are fewer Chinese to take up the jobs they once had with a large economy.
The old don’t have wealth so they all rely on government assistance. But as people die off in China the country’s economy shrinks and becomes a worse place to invest.
It’s loooong past time to bring back jobs to the US.
“... the people there do not want kids. They’ve been conditioned for 50 years not to have them, so they don’t...”
That reminds me of another group somewhere, but I just can’t think of it just now...
Left doesn’t have kids they convert the conservative kids.
The Bidenistas have turned the US into a banana republic that doesn't even grow a whole lot of bananas.
Simple solution - don’t invest in Chicomland.
....China is an avowed enemy of the US. It has hundreds of thousands of people on it’s payrolls working everyday to undermine and/or destroy anything it can in the US.
To American Companies that moved their manufacturing to China, or invested in China in any way, I applaud what’s happening and hope their investment in China is lost.
Thats called “political risk” or “country risk”, in international investment models. I sat in a very interesting lecture on the subject at the ADB (Asian Development Bank) 40 years ago.
Here is an estimate of current country risks from the NYU Stern school.
https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/ctryprem.html
Well I have something even better….gut instinct. They need to get out of there.
They should have foreseen this.
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