Commerce Secretary Gina Raimondo has warned that Beijing must make reforms to attract and retain American investment
The patience of US executives over business conditions in China is “wearing thin” because Beijing has failed to provide a predictable and fair business environment, a top official in President Joe Biden’s administration has warned.
US Commerce Secretary Gina Raimondo critiqued China’s treatment of American businesses in a CBS News interview on Sunday, four days after returning from a trip to Beijing. Despite claiming “progress” in trying to help mend strained Sino-US economic relations, she said “there can be no trust” until Chinese officials follow through on their pledges to address Washington’s concerns.
“We want a large and stable economic relationship with them, but they have to play by the rules,” Raimondo said. “And we are always going to act in our own American self-interest.”