ALERT: WE HAVE *NEVER* SEEN ANYTHING LIKE THIS
By David Shepardson
BEIJING (Reuters) – U.S. Commerce Secretary Gina Raimondo said U.S. companies have complained to her that China has become “uninvestible,” pointing to fines, raids and other actions that have made it too risky to do business in the world’s second-largest economy.
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The comments, made to reporters aboard a high-speed train as her delegation of U.S. officials headed from Beijing to Shanghai, provided a bleak picture of how American firms view China and was the bluntest Raimondo has made on her trip.
“Increasingly I hear from American business that China is uninvestible because it’s become too risky,” she said. Raimondo said American firms are facing new challenges, among them “exorbitant fines without any explanation, revisions to the counterespionage law, which are unclear and sending shockwaves through the U.S. community;…
