BEIJING: US Commerce Secretary Gina Raimondo said US companies have complained to her that China has become"uninvestible", pointing to fines, raids and other actions that have made it risky to do business in the world's second-largest economy.
She said there was"no rationale given" for Chinese actions against chipmaker Micron Technology, whose products were restricted by Beijing earlier this year and rejected any comparisons to US export controls."There has been limited due process, and that's why I brought it up."The Chinese embassy in Washington did not immediately respond to a request for comment.
"I don't have one client wanting to invest in China. Not a single client. Everyone is looking to either sell their Chinese operation, or if they're sourcing products in China, they're looking for an alternative place to do that. That's dramatically different from what it was even five years ago.” At the same time, Beijing is restricting shipments from prominent chip company Micron, failed to give timely approval to Intel Corp's deal to buy another chipmaker that effectively killed the acquisition, and raided and fined US firm Mintz Group US$1.5 million for doing"unapproved statistical work".
Source: News Formal (newsformal.com)
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