Xinhua, Beijing :
US President Donald Trump has recently blocked a Chinese firm’s acquisition of an American semiconductor maker on national security grounds.
The move, which is detrimental to both America’s growth and global economic recovery, also runs counter to the mutually-beneficial and win-win nature of China-U.S. relations.
In recent years, Chinese investment in the United States has been growing rapidly, creating a situation where everyone wins as these investments inject vitality into the U.S. market, expand local employment and boosts tax revenues.
Security reviews of investments in sensitive sectors are the legitimate rights of all countries, but that power should not be used as a tool to implement protectionism. A Chinese company acquiring a foreign business is a normal market practice, which should be treated objectively and fairly.
Analysts said the decision was made partly out of consideration for winning over voters in the 2018 midterm election. As a matter of fact, however, such a move is penny wise and pound foolish.
While Chinese firms were accused of costing U.S. jobs during the 2016 presidential campaign, the reality is quite different: Chinese enterprises are opening new factories and hiring people in America. Chinese-owned firms now employ more than 140,000 Americans nationwide, nine times as many as in 2009, according to the report by the National Committee on U.S.-China Relations and Rhodium Group.
US President Donald Trump has recently blocked a Chinese firm’s acquisition of an American semiconductor maker on national security grounds.
The move, which is detrimental to both America’s growth and global economic recovery, also runs counter to the mutually-beneficial and win-win nature of China-U.S. relations.
In recent years, Chinese investment in the United States has been growing rapidly, creating a situation where everyone wins as these investments inject vitality into the U.S. market, expand local employment and boosts tax revenues.
Security reviews of investments in sensitive sectors are the legitimate rights of all countries, but that power should not be used as a tool to implement protectionism. A Chinese company acquiring a foreign business is a normal market practice, which should be treated objectively and fairly.
Analysts said the decision was made partly out of consideration for winning over voters in the 2018 midterm election. As a matter of fact, however, such a move is penny wise and pound foolish.
While Chinese firms were accused of costing U.S. jobs during the 2016 presidential campaign, the reality is quite different: Chinese enterprises are opening new factories and hiring people in America. Chinese-owned firms now employ more than 140,000 Americans nationwide, nine times as many as in 2009, according to the report by the National Committee on U.S.-China Relations and Rhodium Group.
