U.S.-China Talk Trade, Technology As Commerce Secretary Visits Officials
Investing In China Is Now 'Risky Business,' Raimondo Says
Aug. 30, 2023—Commerce Secretary Gina Raimondo completed a four-day visit to China this week as part of a diplomatic effort to smooth economic relations between the world's largest economies.
The challenge for Raimondo and President Joe Biden is coordinating a new approach to China amid a shift in sentiment away from trade liberalization. Adding to the challenge for U.S. diplomats are China's state control of the economy, tense foreign relations, and a tougher environment for U.S. businesses practicing in China.
Raimondo told reporters she raised concerns about theft of intellectual property, raids on businesses, a new counterespionage law, and extreme fines under that law.
"Increasingly, I hear from businesses Chin...