Commerce Secretary Gina Raimondo, part of President Joe Biden’s Cabinet, is currently in China in an effort to mend the strained relationship between the United States and the world’s second-largest economy. Raimondo aims to take a practical approach while still prioritizing the responsible management of the economic relationship between the two nations.
During her visit, Raimondo plans to meet with Chinese officials and U.S. business leaders in Beijing and Shanghai. Her goal is to promote healthy competition that adheres to fair rules on a level playing field. However, she acknowledges that there are significant challenges that must be addressed.
While the secretary did not provide many details, one matter to be discussed is the promotion of Chinese travel and tourism to the United States. Raimondo noted that there have been recent easing of restrictions on large Chinese groups visiting the U.S.
Raimondo’s visit follows Treasury Secretary Janet Yellen‘s trip to China in July. These visits are intended to demonstrate the Biden administration’s willingness to collaborate with China on economic development, particularly as tensions rise in other areas such as foreign policy and national security. At the same time, the United States is also strengthening alliances with countries like Japan, South Korea, Australia, and the European Union.
Efforts to improve economic ties face divisions, especially following the imposition of U.S. foreign investment controls that have affected various Chinese companies. China has accused the U.S. of using risk reduction as an excuse for decoupling and chain-breaking. In response, China has increased its trade in Asia.
The U.S. contends that these controls are aimed at preventing China from leveraging American investments in its technology firms to bolster its military capabilities. The U.S. maintains that these measures align with national security goals and are not driven by economic interests. However, China’s Ministry of Commerce has expressed serious concern over the executive order issued by President Biden.
Raimondo emphasized that the United States is not interested in containing China’s economic development. Rather, they want to see the Chinese economy prosper. The protection of national security remains a priority, and export controls will be employed to the fullest extent possible to achieve this.
The secretary also highlighted that supporting U.S. manufacturing, which is a key element of President Biden’s re-election campaign for 2024, does not mean a desire to decouple from China’s economy. She aims to convey this message clearly during her meetings with Chinese officials.
Raimondo stressed the importance of regular communication between the two countries for maintaining a stable commercial relationship. She believes that lack of communication can lead to rising tensions and negative consequences for both sides. Raimondo’s visit was at the invitation of China’s Minister of Commerce, and both countries are in touch regarding further engagement and exchange.
In summary, Commerce Secretary Gina Raimondo’s visit to China reflects the Biden administration’s commitment to repairing the strained relationship between the United States and China. Despite challenges and divisions, Raimondo aims to promote healthy competition based on fair rules while safeguarding national security. Regular communication between the two nations is seen as crucial for maintaining a stable commercial relationship.
