U.S to Improve Chinese Relations and Prompt Further Investment
21/05/2008 by Ajay Hasija
In a bid to further improve upon both their social and economic relationship, the U.S Commerce is touting for Chinese companies to increase their foreign direct investment in the country.
Addressing the American Chamber of Commerce in China, U.S Commerce Secretary Carlos Gutierrez pleaded for greater investment. He said "Please come to the U.S. You will find no better market in the world in which to build a business, create wealth and create opportunities."
Recent decades have seen the U.S actively contribute to the Chinese business growth, with figures showing an estimated investment of $22 billion from American countries in China.
In comparison, to date Chinese companies have only invested $550 million in the U.S. This is despite China's experience of an economic boom, which has left them with ready available cash. As a result of this huge trade deficit between the two countries the U.S.A are subsequently reporting increased protectionist sentiments in the States.
As part of the United State's influencing procedure for Chinese Business, Gutierrez further announced the introduction of a new streamlined United States visa application process, designed specifically for Chinese business people.
This plan falls under the country's new ten city series of programs which hope to introduce Chinese investors to the vast opportunities on offer in the United States. One development the U.S. official explained was the implementation of an agreement for Chinese tour groups to go to the United States.
In response to the Carlos Gutierrez's comments, Bryan Palmer an Immigration Worker from Global Visas(www.globalvisas.com) said "A better balanced business relationship between the two power countries would benefit both immensely. We are already seeing a large number of people wishing to work in the U.S and China and should corporate business expand between the two this will continue to grow."
For almost two centuries, the history of Chinese immigration to the United States has seen both hardship and success. As a whole, Chinese American populations continue to grow at a rapid rate due to immigration.
Recent demographic reports show that currently in the U.S, the Chinese American community is the largest ethnic group of Asian Americans, constituting 1.2% of the United States as a whole. This is a number which is sure to increase should the states succeed in promoting the country for further Chinese business investment.
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