U.S. Commerce Secretary Gina Raimondo is embarking on a crucial visit to Beijing, where she will meet with senior Chinese officials and U.S. business leaders. The trip comes at a time when U.S.-China economic ties are hanging in the balance, and Raimondo faces the challenge of addressing Chinese concerns about the U.S. attempting to contain their economy and hinder their development.
Former senior U.S. diplomat Susan Thornton described Raimondo’s visit as a “tricky” one, as she will need to navigate discussions on trade relations while also promoting the interests of U.S. businesses. Thornton believes that the Chinese are welcoming the visit and are hoping for positive outcomes.
Raimondo’s visit to Beijing was at the invitation of her counterpart, Chinese Minister of Commerce Wang Wentao. In his opening statement, Wang expressed China’s readiness to work together to create a more favorable policy environment for both U.S. and Chinese businesses.
The agenda for Raimondo’s visit is expected to include discussions on improving tourism, export controls, and cross-border data flows. China was the largest source of overseas travelers to the U.S. in 2019, but outbound travel from China to the U.S. has only recovered to 30% of pre-pandemic levels.
When asked about the possibility of reversing tariffs imposed by former President Donald Trump, Thornton expressed doubt that it would happen as a result of this trip. She also highlighted the challenges facing the Chinese economy, which has been experiencing difficulties and could have global repercussions.
China recently reported second-quarter gross domestic product below expectations and record high youth unemployment. However, the breakdown of the overall figures was suspended, adding to concerns about the state of the Chinese economy.
Thornton emphasized the importance of stabilizing the trading relationship between the two largest economic powers in the world, as it is in the interest of both countries.
Raimondo’s visit to Beijing will be closely watched as the U.S. and China continue their high-level talks and work towards finding common ground on economic issues.
How do China’s recent economic challenges, such as lower-than-expected GDP and high youth unemployment, affect the prospects of positive outcomes for Raimondo’s trip and the U.S.-China economic ties
U.S. Commerce Secretary Gina Raimondo is embarking on a critical mission to Beijing, where she will meet with key Chinese officials and American business leaders, as the fate of U.S.-China economic ties hang in the balance. Raimondo faces the challenge of addressing Chinese concerns about U.S. attempts to hinder their economic development.
The visit, described as “tricky” by former senior U.S. diplomat Susan Thornton, requires Raimondo to navigate trade discussions while promoting the interests of American businesses. Thornton believes that the Chinese are welcoming the visit and hoping for positive outcomes.
Raimondo’s trip to Beijing was extended on the invitation of her Chinese counterpart, Minister of Commerce Wang Wentao. In his opening statement, Wang expressed China’s eagerness to work together and create a more favorable policy environment for both American and Chinese businesses.
The agenda for Raimondo’s visit includes discussions on improving tourism, export controls, and cross-border data flows. While China was the largest source of overseas travelers to the U.S. in 2019, travel from China has only recovered to 30% of pre-pandemic levels.
However, Thornton expressed doubt about the possibility of reversing tariffs imposed by former President Donald Trump as a result of this trip. She also highlighted the challenges facing the Chinese economy, which has been experiencing difficulties and could have global repercussions.
China recently reported second-quarter gross domestic product below expectations and record-high youth unemployment. The breakdown of the overall figures was suspended, raising concerns about the state of the Chinese economy.
Thornton emphasized the importance of stabilizing the trading relationship between the world’s two largest economic powers, as it is in the interests of both countries.
As the U.S. and China continue their high-level talks to seek common ground on economic issues, Raimondo’s visit to Beijing will be closely watched.
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“It’s crucial for the U.S. and China to find common ground during these discussions to foster economic cooperation and stability.”